Testimony of William E. Sopko
Good afternoon. I am Bill Sopko, President of Stamco Industries of Euclid, Ohio. Ohio has 20 workers in steel consuming industries for every steel production worker.
I appeared before you in September, and I emphasize my urgent request to consider that steel prices in the United States must remain globally competitive, or the result will be catastrophic for businesses that rely on steel as a major input. As our Exhibit indicates, steel prices in the U.S. are already as high or higher than in other major world markets.
For this reason alone, an import remedy that raises steel prices here but not elsewhere will destroy many jobs in the United States that rely on steel. This will only help foreign firms that make products out of steel.