The U.S. steel industry has transformed itself into a world-class competitor.
Labor productivity is second to no other steel industry worldwide.
And it is among the lowest cost suppliers to the U.S. market, with the price of steel remaining well below the overall inflation rate. In fact, adjusted for inflation, a ton of steel costs less today than it did in 1989. Yet the industry continues to face unfair trade practices and significant distortions in world steel trade. Excess world capacity, restricted foreign markets, and dumping remain major problems in world steel trade. Foreign governments are still providing subsidies to their steel producers.