Tuberville In the News: Yellowhammer: Tuberville: Legislation to level playing field for US industries

Bringing his coachspeak into play, Sen. Tommy Tuberville co-sponsored bi-partisan legislation that would disrupt Chinese influence on American industry.

The Eliminating Global Market Distortions to Protect American Jobs Act, also known as Leveling the Playing Field 2.0 Act, is also cosponsored with U.S. Sens. Todd Young (R-Ind.) and Sherrod Brown (D-Ohio).

“Unfair and unethical Chinese trade practices have hurt American workers for decades,” he said. “To protect economic growth, domestic production, and good-paying jobs, we have to fight back. Alabama’s place as a global leader in steel production depends on free and fair international trade.

“This bill is one step toward resetting the playing field and giving American industries the ability to compete.”

Specifically, the bill would revise the U.S. antidumping and countervailing duty laws to ensure international trade regulations and requirements do not unfairly favor international competitors, such as China, especially in the steel industry. It would do this by:

·       Allowing new types of AD/CVD investigations to address “country hopping.”

·       Giving the Department of Commerce the authority to countervail cross-border subsidies and currency undervaluation.

·       Imposing asset requirements on non-resident importers, as well as new certification requirements for all importers.

·       Reversing recent decisions from the U.S. Court of International Trade (CIT) with respect to cost-based particular market situations.

Dumping is the practice of exporting products at a price lower than the one charged domestically, or selling products at a lower cost to foreign customers. Countervailing duties are fees charged by importing countries to counteract the benefit of subsidies provided to a producer by its home country.