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Washington, DC -- Dan DiMicco, Chairman, CEO and President of Nucor Corporation (NYSE: NUE), and Dave Smith, General Manager of Nucor Steel Auburn, Inc., voiced their support for the decision announced today by Representative Michael A. Arcuri of New York’s 24th Congressional District to oppose the proposed free trade agreement between the United States and Peru and to encourage Congressional leaders to advance legislation to address the fundamental trade problems facing American industries and workers.
“Representative Arcuri has the courage to state the obvious – that we have to do something about our trade deficit, and concluding free trade agreements with a country whose economy is smaller than Connecticut’s will not accomplish this,” DiMicco stated. “Representative Arcuri recognizes that we must address the root causes of the trade deficit including currency manipulation by China, foreign government subsidies to industries that export to the United States, and indefensible decisions by the World Trade Organization that limit the ability of the United States to defend itself against unfair trade practices by other countries,” DiMicco said. “Representative Arcuri’s opposition to the Peru Free Trade Agreement isn’t a vote against free trade. It’s a vote for getting our priorities right. Nucor will continue to work with Representative Arcuri and other Congressional leaders to achieve prompt passage of trade legislation that corrects the fundamental problems facing American industries and workers and promotes free, rules-based trade.”
“In the short time he has been in Congress, Representative Arcuri has played an active role in championing policies that will preserve manufacturing jobs in the United States,” Dave Smith stated. “Whether it is testifying before the Ways and Means Committee in support of strong trade legislation, or appearing before the U.S. International Trade Commission in support of trade law enforcement against dumped and subsidized imports, the Congressman has demonstrated his commitment to American manufacturing and to helping workers fight unfair and illegal trade practices.”
Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; light gauge steel framing; steel grating and expanded metal; and wire and wire mesh. Nucor is North America's largest recycler. Nucor Steel Auburn, Inc., a wholly owned subsidiary of Nucor Corporation, manufactures rebar and merchant bar products in Auburn, New York.
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