Protectionism, protectionism, here it comes again …
Hint: “all” you have to do is get the Chinese to stop manipulating their currency, and the steel will become 40% more expensive, ergo it won’t be “dumping” any more.
Just as U.S. steelmakers are beginning to reap big profits again after decades of red ink and bankruptcies, the specter of foreign steel manufacturers dumping cheap imports is looming over the industry.
The global surge in demand, driven in part by China’s industrial revolution, has spawned calls for Washington to act to stem the flood and protect American steel manufacturers.
Data show that total steel imports rose at least 18 percent from September to October, while Chinese steel production was 4.3 percent higher in October than September, despite Beijing’s promises to curb its domestic industry.