Senators call on Obama administration to address steel industry issues

A majority of the Senate Finance Committee on Monday called on the Obama administration to address excess steel imports coming into the United States and the violation of trade rules.

Led by Chairman Orrin HatchOrrin Grant HatchKey Republicans say Biden can break Washington gridlock Trump awards Medal of Freedom to racing industry icon Roger Penske Trump holds more Medal of Freedom ceremonies than predecessors but awards fewer medals MORE (R-Utah) and ranking member Ron WydenRonald (Ron) Lee WydenHillicon Valley: Biden calls for revoking tech legal shield | DHS chief 'fully expects' Russia to try to interfere in 2020 | Smaller companies testify against Big Tech 'monopoly power' Lawmakers call for FTC probe into top financial data aggregator Overnight Health Care: Progressives raise red flags over health insurer donations | Republican FTC commish backs Medicare negotiating drug prices | Trump moves to protect money for religious groups MORE (D-Ore.), the panel sent a letter to U.S. Trade Representative Michael FromanMichael B.G. FromanOn The Money: Sanders unveils plan to wipe .6T in student debt | How Sanders plan plays in rivalry with Warren | Treasury watchdog to probe delay of Harriet Tubman bills | Trump says Fed 'blew it' on rate decision Democrats give Trump trade chief high marks US trade rep spent nearly M to furnish offices: report MORE and Commerce Secretary Penny PritzkerPenny Sue PritzkerBiden's new campaign ad features Obama speech praising him Obama Commerce secretary backs Biden's 2020 bid DNC hauls in .5 million in June MORE urging them to address global over-capacities in steel, aluminum and other commodities to ensure that U.S. trading partners are abiding by global rules, including the recently customs law passed earlier this year. 

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The senators wrote that overcapacities "are significantly impacting global production, consumption and trade flows of those products." 

"Much of this global over-capacity stems from foreign government subsidies and other market-distorting policies that are creating challenges for companies and workers across the United States and abroad," they said. 

The letter comes ahead of a Tuesday hearing with Froman and Pritzker and Ohio Sens. Rob PortmanRobert (Rob) Jones PortmanHillicon Valley: Biden calls for revoking tech legal shield | DHS chief 'fully expects' Russia to try to interfere in 2020 | Smaller companies testify against Big Tech 'monopoly power' Bipartisan group of senators introduces legislation to boost state cybersecurity leadership Senate approves Trump trade deal with Canada, Mexico MORE (R) and Sherrod BrownSherrod Campbell BrownSunday shows preview: Lawmakers gear up for Senate impeachment trial Hillicon Valley: Biden calls for revoking tech legal shield | DHS chief 'fully expects' Russia to try to interfere in 2020 | Smaller companies testify against Big Tech 'monopoly power' Lawmakers call for FTC probe into top financial data aggregator MORE (D) who are slated to testify over two days before at the International Trade Commission on the status of the global steel industry and the effect on the U.S. industry.

The Organization for Economic Cooperation and Development (OECD) has reported that global crude steelmaking capacity more than doubled between 2000 and 2014, with growth led by China.  

Meanwhile, global demand for steel, including U.S. and Chinese demand, has decreased.  

As a result, significant increases in exports of Chinese steel have entered global markets, including the United States, hitting the U.S. industry.

Joining Hatch and Wyden in signing the letter are: Sens. 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