"We've got to address the flood of foreign subsidized imports coming into Europe and the U.S.," said Jay Henderson, general manager and COO of Italy-based Duferdofin-Nucor. Henderson's comments came during a panel discussion at the Association for Iron & Steel Technology's annual Italy Steel Forum. Henderson was joined on the panel by three others: United States Steel Corporation CEO Mario Longhi; Robert Jan Jeekel, ArcelorMittal's head of European Affairs; and Roberto Pancaldi, managing director of Tenova Thermprocess. Henderson noted that one of every three tons sold in the U.S. is imported, and most of that originates from China. He also said that China has the potential to export 100 million tons this year. The amount exceeds the country's annual steel demand, he said. "It's just a staggering amount," Henderson said. "Steel companies don't have a decade or two decades to think about what were going to do. This is an imminent threat to the steal industry. It's a foe that we have to deal with." Several U.S. producers, including U. S. Steel, have filed trade complaints with the U.S. International Trade Commission. But as American producers circle the wagons, Europe is considering opening its doors to more trade with China. Jan Jeekel said the European Commission is considering granting market economy status to China, which would make it almost impossible to impose trade measures against the country. Jeekel said that if the European Union grants China that status, China's excess capacity all will begin flowing into the EU. Longhi said that North American and European producers are coordinating on an effort to persuade the EU to withhold granting that status. Longhi said granting that trade status shouldn't be awarded on the basis of a date. "It's your behavior that validates that you've earned the right to acquire it," he said.