The Early Shift
Posted by vriz on 04/09/2009
Auto parts suppliers will soon receive U.S. government aid.
The Steelworkers and nine American pipe and tube makers file a dumping case against China on oil and gas pipe and tube. China’s exports of this product to the U.S. have more than doubled over the past year in a weak market.
A shrinking economy means a shrinking trade deficit, even with China. Figures out this morning show the smallest monthly trade gap in 9 years: $26 billion in February. The trade gap with China was a three year low of $14.2 billion. Still, that means China accounts for more than half of the U.S. trade gap, a staggering figure.
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It is great to see that
It is great to see that American industry will continue to challenge China for their illegal trade practices. The American steel pipe and tube industry and the United Steelworkers have demonstrated four different times that Chinese government subsidies their industries and allow for their products to be dumped into this country. With the oil country pipe the Chinese imports have jumped from 750,000 tons in 2006 to 2.2 million tons in 2008!
A reaction to the American industry and their workers standing up for fair trade the President of the American Institute for International Steel (ALLS) said that the action was "Regrettable"! Regrettable is his term for American industry standing up to the Chinese government subsidizing their steel pipe and tube industry. When the Chinese government subsidizes their industry the result is the individual American companies must compete against the Chinese government. There are not any American companies that can win against that competition. The American Institute for International Steel states on their web site that they are for "free trade". When American companies have to compete against the Chinese government that is not free trade, fair trade it is not trade at all. We trade our industries for their subsidized goods. I hope that this "American" Institute will be for trade from American companies against foreign companies and not their governments.