U.S. steelmakers are pushing to ensure that any potential bill to renew Trade Promotion Authority (TPA) moves together with legislation being drafted by Sens. Sherrod Brown (D-OH) and Jeff Sessions (R-AL) that aims to combat currency manipulation by foreign trading partners, according to the head of a major U.S. steel industry group. In a Jan. 20 conference call with reporters, American Iron and Steel Institute (AISI) President Thomas Gibson said he expected Brown and Sessions to introduce their bill soon, and that it would focus on encouraging the U.S. Commerce Department to investigate undervalued currency as a subsidy in countervailing duty (CVD) cases.
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