Steel Products Prices North America
May 15, 2014
Surging Steel Imports Put Jobs at Risk
Written by Sandy Williams
The Economic Policy Institute (EPI) and the law firm of Stewart and Stewart recently released its publication “Surging Steel Imports Put Up to Half a Million U.S. Jobs at Risk.” The publication was released in support of the domestic steel industry and their unions and contends that unfairly traded imports are costing the U.S. jobs and revenues. Steel Market Update is providing the following review to our readers as this report is actively circulating in the media and financial communities.
According to the report 583,600 American steel-related jobs are at risk if the U.S. does not fully enforce trade laws. The report claims surging imports of unfairly traded steel have led to depressed domestic steel production and revenues, sharp declines in net income in the U.S. steel industry, layoff of workers and reduced wages.
