Whether in the form of 'Buy American,' regional pacts such as Nafta and Cafta, export taxes, rebates or creeping protectionism, steel trade is always a hot topic in steel circles. To tap into the latest buzz on the steel trade circuit, AMM sat down in late June with AIIS executives, members and affiliates. Here's what they had to say.

How are market conditions today? Do you see any positive trends developing in the steel marketplace?

Leon Goldenberg, president, Fremak Industries Inc.: Basically, the mentality has changed in the marketplace. People are starting to call up and make some inquiries. The problem is you don't know how much is just people calling up to find where the pricing is to adjust the value of their inventories. We have definitely reached the bottom. There are holes and people want to fill them. Most people are buying only what they need. There aren't a lot of bookings on the import side. There are a lot of offers. Mills all over the world are definitely looking to sell their product, but traders today are being very cautious. Everybody is crossing their t's and dotting their i's.

What is your take on the "Buy American" provision in the stimulus legislation and possible ripple effects in the form of increasing protectionism from its implementation?

Wilfried von Bulow, chairman and senior advisor to MAN Ferrostaal Inc. and chairman of the American Institute for International Steel: It's bad economics. We're seeing a very bad trend here, and I think the international community really has to work against it. Further protectionism is the worst thing that can happen given the recession we are in . . . and there are bad signs out there.

Lewis Leibowitz, trade attorney and counsel to the Consuming Industries Trade Action Coalition: From a consuming industries viewpoint, it's a disturbing possibility. In today's economy it is not clear to me that "Buy American" really helps. Look at Duferco Farrell, where United Steelworkers union members are being thrown out of work because the company's business model relies on imported slab whereas a competitor's doesn't. Are you actually going to create more employment in the United States by employing "Buy American" tactics? The burden of proof is on those who think protectionism works. I think there is a lot of evidence it doesn't work. The politics of "Buy Local" is pretty compelling, but the economics are pretty compelling in the other way. Every time the G20 gets together, there is a provision in the communiqué that says, "The one thing we're not...