Heat Treat Industry News
July 06, 2010
U.S. lawmakers urge China steel investment probe
TOKYO (MarketWatch) -- The U.S. Congressional Steel Caucus, a bipartisan group of 50 lawmakers, is calling for an investigation into whether a recent U.S. investment by China's Anshan Iron & Steel Group should be blocked on national security grounds. The Chinese state-owned firm plans to invest in a $175 million rebar facility that Steel Development is building in Amory, Miss. "Anshan is China's fourth-largest steel producer and the product of massive Chinese government subsidies, and we are deeply concerned that their direct investment in an American steel company threatens American jobs and our national security," the group said in a letter Friday to Treasury Secretary Timothy Geithner. "We believe that this investment allows the full force and financing of the Chinese government to exploit the American steel market from American soil."
By MarketWatch TOKYO (MarketWatch) -- By MarketWatch
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