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Steel industry demands subsidy ban

Archiv – The annual congress of the Brussels-based International Iron & Steel Institute (IISI), held last month in Chicago, reviewed progress on a new steel subsidy agreement being negotiated by major steel-producing countries under the auspices of the OECD. At an event attended by more than 200 of the world steel industry’s top managers, the IISI board emphasised its support for governments seeking to conclude a strong and enforceable agreement to prevent future market-distorting subsidies.The annual congress of the Brussels-based International Iron & Steel Institute (IISI), held last month in Chicago, reviewed progress on a new steel subsidy agreement being negotiated by major steel-producing countries under the auspices of the OECD. At an event attended by more than 200 of the world steel industry’s top managers, the IISI board emphasised its support for governments seeking to conclude a strong and enforceable agreement to prevent future market-distorting subsidies.
The board’s message to governments is that the agreement should ban any steel industry subsidies either for the creation of new capacity or for the maintenance of existing steel operations, whereas subsidies should be permitted for social and environmental problems emanating from permanent plant closures. With such an agreement in place, the most competitive steel industries in the world would be able to sell their products internationally and indeed should expect no obstructions to this, it argued. However, if governments decided to continue to intervene in the development and operations of their steel industries, it would be unreasonable to be given open access to overseas markets where the steel producers were not subsidised.

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