On behalf of the American Iron and Steel Institute (AISI) and the Steel Manufacturers Association (SMA), John Nolan, Vice President of Marketing and Sales for Steel Dynamics, Inc. (SDI), submitted written testimony last week to the House Ways and Means Committee related to the hearing on “United States-China Economic Relations and China’s Role in the World Economy.”

Mr. Nolan was asked to submit testimony because SDI is a member of both associations, as well as the China Currency Coalition (CCC), which was also represented in the testimony.

According to Andrew G. Sharkey III, President and CEO of AISI, the joint testimony submitted by Mr. Nolan touches upon the key issues the United States faces in dealing with China. “If we are to remain competitive, the U.S. must insist that China revalue its currency, hold China accountable for its WTO obligations and defend, enhance and enforce our trade laws.”

Thomas D. Danjczek, President of the Steel Manufacturers Association, said: “The SMA urges the U.S. Congress and the Administration to use China's extraordinary access to the U.S. market to negotiate a more realistic relationship of the Yuan to the dollar.”

Both organizations support legislative efforts to address the above issues, including “The Stopping Overseas Subsidies Act,” introduced by Steel Caucus Chairman Phil English (R-PA) and Congressman Artur Davis (D-AL) and “The Chinese Currency Act of 2005,” introduced by Congressmen Tim Ryan (D-OH) and Duncan Hunter (R-CA).