AISI Applauds Commerce Denial of Vietnam Market Economy Status

WASHINGTON, D.C. - Kevin Dempsey, president and CEO of the American Iron and Steel Institute (AISI), today issued the following statement in response to the U.S. Department of Commerce's (DOC) announcement denying Vietnam's request for market economy status.

Dempsey, who earlier this year testified before DOC on this issue, said, "Granting market economy status to Vietnam was not justified by the facts - given the significant role of state-owned enterprises in the Vietnamese economy, Vietnam's role in circumventing U.S. trade law orders on goods from China and other countries, its continued currency manipulation, its ongoing export restrictions on steelmaking raw materials, and its other trade restrictive practices. Moreover, given the substantial Chinese direct investment in Vietnam, granting it market economy status would have been a gift to China. Simply put, providing market economy status to a country that engages in such a wide range of unfair trade practices would encourage even more trade cheating while harming the American steel industry and many other U.S. industries. AISI applauds Commerce's decision to deny Vietnam market economy status, and we look forward to continuing to work with Congress and the administration to promote policies that foster opportunities for American steel producers and their workers to compete on a level playing field."

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Contact: Lisa Harrison

202.452.7115 / [email protected]

AISI serves as the voice of the American steel industry in the public policy arena and advances the case for steel in the marketplace as the preferred material of choice. AISI's membership is comprisedof integrated and electric arc furnace (EAF) steelmakers reflecting the production of both carbon and stainless steels which are critical to the everyday lives of all Americans - including national security, roads and bridges, the electrical grid, clean energy technologies and the automotive market. AISI also representsnearly 80associate members who are suppliers to or customers of the steel industry. For more news about steel and its applications, view AISI's website at www.steel.org. Follow AISI on Facebook, LinkedIn, Twitter(@AISISteel) or Instagram.