Bost Chairs Hearing on State of the Steel Industry
WASHINGTON, D.C. – Today, U.S. Rep. Mike Bost, Co-Chairman of the bipartisan Congressional Steel Caucus, presided over the caucus’s annual hearing. The hearing brought together executives of leading steel companies from across the country and the union representing American steelworkers to discuss legislative issues impacting the industry.
“Steel is a critical industry to the American economy and national security, but it’s in crisis,” said Bost. “Market distorting policies by foreign actors have resulted in a flood of unfairly traded imports to the United States. Many of these steel products are sold at less than their fair market value. The President’s decision to invoke Section 232 may help our steel producers battle against illegal foreign trade practices. As we heard from our witnesses this morning, our national security is clearly dependent on a strong American steel industry. A weak domestic steel industry leaves our defense vulnerable to the economic interests of other nations.”