Doing Business on an Unlevel Playing Field
On the brink of an energy independence boom, unfairly-traded imports are flying under the radar in the United States. These imports are arguably the biggest challenge for energy independence, as they result in fewer domestic jobs, poorer quality product, and less money in our economy. JMC Steel Group, however, is fighting back.
Steel is a trillion dollar industry – over 1.6 billion tons were produced worldwide in 2013 alone. The United States is the third leading steel producing country, behind only China and Japan. As the only country in the Western world that consumes more steel than it produces, keeping up with that demand is a daily struggle for steel manufacturers in the United States. Add mounting pressure from lower-priced imports to the mix, however, and local manufacturers are quickly becoming unable to compete against prices from countries who subsidize their manufacturers.
But, despite increasing odds, domestic manufacturers are determined to persevere. In this video, Barry Zekelman, CEO of JMC Steel, discusses how we are fighting back against unfairly-traded imports, and boosting domestic manufacturing as a result.