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(This is not a legal transcript. Bloomberg LP cannot guarantee its accuracy.)

DANIEL DIMICCO, CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF NUCOR CORPORATION, TALKS TO BLOOMBERG'S MARGARET BRENNAN ABOUT CHINA AND THE U.S.

JANUARY 14, 2010

SPEAKERS: MARGARET BRENNAN, BLOOMBERG NEWS

DANIEL DIMICCO, CHAIRMAN AND CHIEF EXECUTIVE OFFICER, NUCOR CORPORATION

10:46

MARGARET BRENNAN, BLOOMBERG NEWS: Is Google's threat to exit the Chinese market a help to other U.S. companies who say that China discriminates against foreign companies? Nucor Chairman and CEO Dan DiMicco has long sounded off on China's trade practices and has said that if the United States wants to address unemployment in the U.S. they should address its trade relations with China.

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He joins me now live from Charlotte, North Carolina this morning. Mr. DiMicco, does this latest public showdown between Google and China change the tone, the tenor of your conversation with Washington? Are they any more receptive to some of your complaints?

DANIEL DIMICCO, CHAIRMAN AND CHIEF EXECUTIVE OFFICER, NUCOR CORPORATION: Well, first off, good morning and, you know, this is just another in a long litany of transgressions that have occurred over the last dozen years. And I must admit that this administration has been much more in tune with enforcing rules-based trade, holding our trading partners and our trading competitors as in the case of China, accountable for playing by the rules they agreed to to have access to our market.

And that needs to happen not only here but for the whole world because the chorus of concerns have been raised around the world in every corner, of China's massive currency manipulation subsidy and other subsidies they use to help their export economy, which is against all the rules they agreed to at the WTO and with the individual countries.

BRENNAN: And in fact the last time you were on this program on December 22nd you said that the United States is allowing China to abuse trade laws. A few days later on December 30th, the U.S. actually did go ahead and impose duties on $3 billion worth of steel pipe imports from China. Did that change in policy change your attitude towards whether or not the Obama administration is correct in its dealings with China?

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DIMICCO: Well, for some time now, not just recently, we've been very supportive and public in our support for what the Obama administration and the USTR and the Department of Commerce have been doing to reinforce what free trade is all about, rules-based trade, and enforcing the rules against trading competitors like China in hopes that they become true trading partners.

So we've been very supportive and we want to continue to see our administration and the Congress do what's right and enforce rule-based free trade.

BRENNAN: What is it that you're looking for here, sir? I mean do you want more access to the Chinese marketplace yourself?

DIMICCO: Well, certainly the Chinese practice the most extreme forms of what folks in the press call protectionism in keeping people out. But what we want more than anything else for them just to play by the rules they agreed to, which are there for a reason, so that make sure that predatory pricing and trade practices are not a thing of today but a thing of the past. Mercantilistic trade practices were supp
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