Business and Economics

Budget Lapse Suspends Hearing and Steel Investigation

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October 3, 2013 — United States Representative Pete Visclosky says a hearing scheduled today before the U.S. International Trade Commission has been cancelled due the government shutdown.  He says the cancellation also signals a suspension of a federal investigation of steel dumping into the U.S. market.

The shutdown notice issued by the U.S. International Trade Commission is available online.  To read, click:  http://www.usitc.gov/documents/shutdown2013plan.pdf

Indiana’s 1st District Congressman was set to testify on behalf the domestic steel industry, including U.S. Steel and ArcelorMittal, before the U.S. International Trade Commission as Vice Chairman of the Congressional Steel Caucus.  The Caucus is a group of 100 members of Congress who represent districts with steel manufacturers or have a strong interest in the nation’s steel industry.

Visclosky says, “The cancellation of today’s hearing is just one example of how this government shutdown adversely impacts our economy and costs American jobs.  It is unfortunate that the U.S. International Trade Commission has ceased their investigative activities as a result of this shutdown.  This has given foreign nations and companies free reign to continue to violate our trade laws and jeopardize the livelihood of American workers.  We need to restore our government operations and lead with courage.  I urge the House of Representatives leadership to reopen our government.”

Visclosky notes that the steel industry has been central to Northwest Indiana for more than 100 years ago, so today’s cancellation causes threats on several fronts, including loopholes in Buy America protections and illegally-subsidized imports from foreign nations that devalue currencies to flood the steel market.

 

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