to knows, Protecting U.S. Jobs From Unfair Competition oN (NAPSA)—Since the Industrial Revolution, it could be said that the fabric of America is steel. And even in an economic downturn, steel remains an essential component of U.S. growth and exports. But where is that steel coming from? Increasingly, the answer is “overseas.” Although the total U.S. consumption of specialty steel decreased 11.5 percent between June 2007 and June 2008, the percentage of foreign steel—known as the import penetration—actually increased from 35.6 percent to 39.9 percent. The primary increase stems from the importation of stainless steel sheet/strip, which jumped 13.4 percent over the same time period—despite the fact that the nation’s consumption went down 6.2 percent. Over that 12-month period, imported alloy tool steel also saw a significant increase of 6.1 percent. “Stainless steel imports of sheet and strip products continue to surge, even in the midst of a 10 percent decline in U.S. consumption,” said Doug Kittenbrink, chairman of the Specialty Steel Industry of North America. “Currency manipulation and other = om My in! +r i f mn a aan Mi. More and moreof the steel used in the U.S. comesfrom overseas, which posesa threat to American jobs and the economy. subsidies are enabling Asian competitors to unfairly target our markets. We strongly believe it is time for the U.S. Congress to address the issue of China currency manipulation.” Many Americans concerned about the country’s economy—as well as their own—are writing their legislators in Washington about this issue. You can reach your senators at www.senate.gov and your representative at www.house.gov. For additional information, visit www.ssina.com.
