Why has Nucor taken a leading role in the legislative fight over China’s currency?
You have to either lead or get out of the way. As one of the country’s largest manufacturers that depends on a healthy manufacturing economy, we had no choice because no one else was [doing it]. The multinational companies and numerous bureaucrats had long ago stolen the discussion on free trade and gravely distorted it. These companies bought into the incentives created by foreign governments and our own government’s lack of industrial support. [They] drove industry offshore and now they have too much vested in the process to be champions for domestic manufacturing. [What we need is] energy, trade accountability, currency and the creation and maintenance of a level playing field. Nucor’s business is dependent upon a healthy base of durable goods manufacturing in North America. Is that base eroding? How do you know? Yes, it is eroding. All you have to do is look at the massive trade deficit of over $700 billion, the 3 million manufacturing jobs lost since 1999 and all the companies tha
