Nucor CEO talks steel oversupply, says ‘we've got to continue to advocate' for the industry

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CEO of steelmaker Nucor Leon Topalian told CNBC’s Jim Cramer on Friday about steel oversupply.

refers to a practice in which a country exports certain products to other countries at a significantly lower price than those countries' home markets.

Topalian praised the Biden administration, specifically Secretary of Commerce Gina Raimondo as well as Trade Representative Katherine Tai, for their grasp of the issue. "Their leadership and understanding this industry and not protecting free trade, but fair trade, because it's not just cheap steel, it's illegally subsidized and dumped steel that really harms this nation."

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