Keith Busse, CEO of Steel Dynamics and vice chairman of the American Iron and Steel Institute, writes in the Fort Wayne Journal-Sentinel a detailed policy prescription for aiding the global competitiveness of manufacturing and the U.S. steel industry. His column, “Level business playing field,” proposes specific measures to respond to unfair competition in steel, especially in the form of Chinese subsidies and the undervalued yuan. But Busse also highlights steps U.S. policymakers can take here, responding to the 32 percent to cost disadvantage manufacturers in the United States face compared to our major competitors.
In addition to trade policies that level the global playing field for U.S. manufacturers, we need:
Tax policies that enhance growth and encourage productivity; Cost-cutting reforms that bring health care, legal and regulatory costs down; A national energy policy that ensures plentiful and inexpensive energy; Technology policies that enhance the U.S. lead in R&D and innovation; And worker skill-enhancing initiatives to put people back to work.
Exactly right. And thanks for citing “The Escalating Cost Crisis,” the Manufacturing Institute study that lays out these consequences and costs of these bad policies.
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