Nolan Applauds US Trade Representative Doubling-Down on Commitment to Iron Range Steel and Iron Ore Crisis
[WASHINGTON D.C.] U.S. Rep. Rick Nolan today applauded U.S. Trade Representative Michael Froman’s promise of a doubled-down commitment from the Obama administration to address the steel and iron ore crisis on Minnesota’s Iron Range.
“I am glad to see the White House continuing to prioritize our fight to hold trade cheater nations accountable and put our miners back to work where they belong,” Nolan said. “This crisis has jeopardized the very survival of our nation’s iron ore mining and steel industries and put thousands of people on Minnesota’s Iron Range and across the country out of work.”
"Our commitment to these issues extends to the very highest level and we're focused on everyone who is affected, not only the steel mills, but also the mining workers and communities on the Iron Range," Froman said during a speech today at the Economic Club of Minneapolis. "We needed to have a conversation about China's overcapacity."
There is an estimated 700 million metric tons of excess global steel capacity, with approximately 400 million of that excess coming from China. Nine out of the top ten steel producers in China are state-owned.
"There will be a series of high-level discussions in the coming weeks at the OECD [Organisation for Economic Co-operation and Development] and elsewhere about what to do," Froman continued. "We have used all of our bilateral mechanisms with China to continue pressing for progress. But there's more work to do, and we remain focused on holding our trading partners to account."