[ I posted the statistics link for the ITC, the publications page and at the end of the article. Why should workers get screwed because of the $ policy?....]
[Financial Times] Ruling opens way for curbs on steel imports By Edward Alden in Washington Published: October 23 2001 01:55 | Last Updated: October 23 2001 05:04 The US International Trade Commission ruled on Monday that foreign steel producers were hurting the US steel industry, opening the door to broad-ranging restrictions on steel imports by early next year. The decision hands the Bush administration what promises to be a difficult and politically contentious decision over whether to escalate trade tensions with US allies at a time when the country is trying to maintain a solid international coalition for the fight against terrorism. US steelmakers have continued to falter in the face of declining US demand, falling prices and lower-cost imports. Bethlehem Steel, one of the country's largest steel companies, last week filed for Chapter 11 protection from its creditors, making it the 25th US steel producer to declare bankruptcy since 1998. The administration earlier this year launched what is known as a Section 201 investigation, which would allow the US to protect the industry through higher tariffs or quotas on steel imports without violating international trade rules. Monday's decision by the ITC, an independent arm of the government, means that trade curbs could be placed on most of the main steel products, including all categories of flat-rolled steel, covering about 80 per cent of US steel imports. The ITC also excluded steel from Canada in most of the categories, though it included most steel from Mexico. Steelmakers in both countries are treated separately as a result of the North American Free Trade Agreement with the US. The ITC now has 60 days to recommend a remedy, which will likely include import restrictions, but may also require the steel companies to take steps to improve their own competitiveness. The Bush administration then has another 60 days to accept or reject the remedy, or fashion one of its own. The action could get caught up politically in the administration's effort to win congressional authority for negotiating new trade accords. The steel case was launched largely as a way to persuade steel state lawmakers to back new fast-track authority. The House is expected to vote on fast-track in the next few weeks, but Senate action is unlikely until early next year. That could leave powerful steel supporters in the Senate such as Jay Rockefeller of West Virginia and Max Baucus, the finance committee chairman, in a position to demand relief for the steel industry. < http://www.usitc.gov/er/nl2001/ER1022Y2c.pdf > < http://www.usitc.gov/ier.htm > < ftp://ftp.usitc.gov/pub/telephone/ITCPHONE.PDF >
