Cato Institute: U.S. Should Thank China For Providing Cheap Steel

The United States should say "thank you" to China for flooding the market with cheap steel because it allows domestic manufacturers to build cheaper products, a savings that is passed on to consumers, according to Daniel Pearson, a senior fellow at the Cato Institute. Pearson said in an April 14 interview that imposing antidumping (AD) duties on Chinese steel will not protect the domestic steel industry. This is because the world market price is so low that even with AD...