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RECOMMENDATIONS
The problems plaguing the steel industry (supply and demand imbalance) were exacerbated due to its punitive cost structure. Due in part to its high labor costs the steel industry has the highest production costs in the world. ... Dumping and subsidized imports will take their toll on Nucor’s market share. ... The magnitude of new imports and their detrimental effect upon the steel industry is a call for relief. The following are recommendations for Dan DiMicco so that Nucor can maintain its profitability and continue to have future growth potential.
Join together with US producers of steel and lobby hard for the Bush Administration to impose tariffs on foreign steel imports: The steel industry’s high cost structure is further complicated by the impact of unfair trade practices and dumping by foreign steel makers. ... The steel industry has been negatively impacted for years by foreign dumping of steel. ... Nucor needs to take a leadership role in the trade issue and continue to fight for a level playing field for the fair and free trade of steel. Lobbying will allow Nucor to fight for the enforcement of existing regulations, trade laws, antitrust issues; the development of an warning system for illegally traded imports and hold those accountable for over capacity and illegal dumping of steel in the market by foreign competitors.
Approximate Word count = 925
Approximate Pages = 3.7
(250 words per page double spaced)
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