|
| Mittal spent big dollars lobbying with US on China |
| Press Trust of India / Washington May 06, 2009, 16:00 IST |
|
Steel baron Lakshmi Mittal has spent millions of dollars for lobbying with US lawmakers on a variety of issues, including support for action against China's "unfair trading practices" and export restrictions.
As per the latest lobbying disclosure report filed with the US Senate and the House of Representatives, ArcelorMittal spent $470,000 during the first quarter of 2009 on various lobbying activities.
In all, ArcelorMittal USA, part of the world's largest steel empire run by Mittal, has spent $4.16 million on its lobbying activities among the US lawmakers and in various government departments since 2006 for various issues.These include favouring and further strengthening of 'Buy America' provisions and opposition to certain policies of China.
When contacted, an ArcelorMittal spokesperson told PTI in an emailed statement: "We are in favour of global trade under fair conditions. If products are being sold in markets at unfair conditions, such as dumping, governments should be able to challenge such unfair practices."
The spokesperson, however, noted that ArcelorMittal was not lobbying against Chinese government policies and, in fact, it was supporting the stimulus package put forward by the Chinese government to revive demand in various industries.
China is the world's largest steel producer with annual capacity totally 660 MT. ArcelorMittal is the single largest producer of the alloy in the world with a capacity of 103 MT, over 10 per cent of the world output.
In the disclosure reports for previous quarters also, similar issues were lobbied by ArcelorMittal either directly or through its lobbyists. One of the issues lobbied in the past included support for "a bill to require the President to delay or reverse implementation of a World Trade Organisation decision."
Other lobbied issues include support for strengthened Buy America provisions in rail projects and increased transparency for Buy America waivers, opposition to granting of market economy treatment to non-market economies in anti-dumping cases and advocate strong trade remedy rules for Doha Round.
Besides, ArcelorMittal also lobbied in support of the US Commerce Department's decision to apply countervailing duties in non-market economies and continuation of the anti-dumping 'zeroing' policies.
As per the disclosure records, ArcelorMittal has been lobbying with the US lawmakers since 2006, while prior to that such activities were done through other entities such as Mittal Steel. ArcelorMittal was formed after merger of European steel giant Arcelor with Lakshmi Mittal-led Mittal Steel in a $33-billion deal in 2006.
So far in 2009, ArcelorMittal has spent $470,000 on lobbying activities, while it spent $1.45 million in 2008, $2.02 million in 2007 and $220,000 in 2006.
|
|
|
|
|
|
|
|
|
|
 Read Business news in |  |
|
|
|
|
|
|
Advertisements |
|
|
|
|
|
|
|
|
|
Content Guide
