April 12,2016

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Wyden: Trade Enforcers Must Act to Stop China’s Global Steel Glut from Crushing American Workers

Wyden Calls for U.S. to Use Tough New Enforcement Tools, Urges Trade Partners Not to Weaken Enforcement

WASHINGTON - Senate Finance Committee Ranking Member Ron Wyden, D-Ore., urged trade enforcement officials in the United States and around the world to step up efforts against Chinese manipulation of the global steel market. Strong enforcement is the best way to support the U.S. steel industry and tens of thousands of American jobs, Wyden said, at a hearing hosted by the Office of U.S. Trade Representative on Tuesday.

“Enforcement is at the heart of defending against China’s unfair tactics,” Wyden testified, urging the administration to take full advantage of tough new trade enforcement tools he helped push through Congress over the past year.

“Talk is no substitute for action. Workers cannot afford to wait for the relief they deserve,” Wyden said.

Wyden said the United States and major trading partners such as Europe cannot treat China as a free market economy this year, not when the government is actively directing the economy and distorting markets. “Market economy” status would give China the ability to use distorted prices and costs to artificially undercut trade relief.

“China’s economy is not run by the commercial market; it’s run by government committee. And China has proven itself more than willing to skew markets to rip off American jobs. So first and foremost, the U.S. needs our friends in Europe and elsewhere to recognize that now is not the time to give China ‘market economy’ status,” Wyden testified.

Read Wyden’s full testimony here.