Political Quotes

“over the last few decades, China has used market-distorting subsidies and industrial policies to repeatedly prop up their own industries and rip off American jobs. Steel, tires, solar panels--the story plays out again and again. Too often China's economy is not run by the markets; it is run by government committee. So even though its own State Council has called out the problem of severe excess capacities, China clings to the same old tired and destructive policies. Today I want to address what is happening now with China's huge overcapacity of aluminum. The amount of aluminum Chinese smelters are churning out has gone up by more than 1,200 percent in a decade and a half. In 2000, they produced 2.5 million metric tons. In 2015 China produced 32 million metric tons. When you create a glut of aluminum production the way China has, you send the markets into turmoil and you do enormous harm to American workers. I spoke last week at a public hearing held by the U.S. Trade Representative and the International Trade Commission about how the overproduction of steel in China is an urgent and immediate threat to steel jobs here in our country. While China's steel mills are churning out more steel than ever, American steel towns are suffering or worse. Thousands of jobs nationwide have been lost just in the last year. Even though one-third of all steel produced today has no buyer, China keeps adding and adding to the glut by producing more steel.…”