Heat Treat Industry News

April 07, 2008

Nucor town hall meeting: National event will be held in Decatur

Like Nucor? Not thrilled with China? Interested in foreign trade? Like barbecue?

If you answered yes to any of the above, be at the Point Mallard Pavilion on Thursday from 5:30 p.m. to 7:30. Attendance is free, but you must RSVP to 560-2054.

Nucor is sponsoring its 13th town hall meeting nationally. This is the first in Decatur, and it expects attendance of more than 1,500.

Called "Fighting for America," the effort is intended to preserve the strength and security of working Americans and their families.

Nucor's premise is that unfair trade practices -- especially by China -- are costing U.S. manufacturing jobs. Its town halls are an effort to motivate the public to impact U.S. public policy on foreign trade issues.

"We want to draw attention to manufacturing jobs in the U.S., which are the foundation of our country, creating value," said Nucor Steel Decatur General Manager Rex Query.

"We want to focus on fair trade and currency manipulation, environmental stewardship and accountability." Steel market

Query said that by pegging its currency to the U.S. dollar, China is distorting the steel market.

In countries with currencies not pegged to the dollar -- that is, where the government does not intervene in exchange rates -- a declining U.S. dollar tends to reduce the attractiveness of foreign imports.

This has a self-regulating effect on international trade.

China is a major steel exporter, increasing pricing pressures on Nucor and other domestic steel producers.

Query said lax environmental and employee-safety standards in China also create trade imbalances. China has lower production costs because it does not adhere to U.S. standards.

Query said he believes the United States should impose tariffs on Chinese steel, coupled with political pressure for it to match U.S. environmental and employee-safety standards.

Failure to correct the trade imbalance, Query said, erodes America's manufacturing base.

"We create value here," Query said.

"There's a difference between owning the yard and being the person who comes to mow the yard. We don't want to be dependent on other (countries) because they may choose not to need us."

At the annual meeting of the Decatur-Morgan County Chamber of Commerce meeting Tuesday, Nucor presented State Sen. Arthur Orr, R-Decatur, with its "Man of Steel Award."

Orr, Query said, has shown "unwavering support for domestic manufacturing."

Without aggressive enforcement of U.S. trade laws, Query said, many U.S. businesses must close or move overseas.

Speakers at the Nucor town hall on Thursday:

--John Ferriola, Nucor's chief operating officer of steelmaking operations.

--Ladd Hall, Nucor's executive vice president.

Nucor has held previous town halls in Nebraska, Illinois, Ohio, Arkansas, South Carolina, New York and Mississippi.

Apr 06, 2008 (The Decatur Daily - McClatchy-Tribune Information Services via COMTEX)

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