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SEN. SPECTER MEETS WITH STEEL INDUSTRY & UNION OFFICIALS ON NEW INITIATIVE TO STOP UNFAIR TRADE PRACTICES TAKING AMERICAN JOBS

 SEN. SPECTER MEETS WITH STEEL INDUSTRY & UNION OFFICIALS ON NEW
 INITIATIVE TO STOP UNFAIR TRADE PRACTICES TAKING AMERICAN JOBS
 PITTSBURGH, July 24 /PRNewswire/ -- U.S. Sen. Arlen Specter (R-Pa.) will be in Pittsburgh on Monday, July 27, to meet with officials of USX Corporation (NYSE: X) and the United Steelworkers of America (USW) on a new initiative by Specter to improve U.S. access to overseas markets and to deter unfair trade practices, such as subsidies and dumping, a spokesman said today.
 The meeting will take place in the USX Building, 600 Grant St., downtown Pittsburgh. Specter will confer with Charles Corry, chairman of the board and chief executive officer of USX, Thomas J. Usher, president of the United State Steel Corp., and Lynn Williams, president of the United Steelworkers of America.
 In introducing his legislation last week, Specter decried the unfair trade practices of foreign trading partners which he said have had the direct consequence of destroying American jobs. No industry, he said, has been more deleteriously affected than the U.S. steel industry.
 "The cornerstone of any free trade policy," he said, "is reciprocity and the absence of unfair trade practices. We must have unfettered access to foreign markets and our trading partners must not be allowed to dump or subsidize their exports.
 "Free trade means fair trade. We cannot allow foreign nations to close their markets to our products and we cannot allow them to export to us dumped and subsidized products. This is unfair trade."
 Specter's bill would extend the Voluntary Restraint Agreements (VRA) on specialty steel until March 31, 1995, when it is anticipated that a multilateral steel agreement will have been negotiated. These VRAs ran out on March 31, and were not renewed.
 The legislation would also provide for a private right of action by a company or a labor union to go into U.S. Federal Court and to seek injunctions or damages caused by unfair trading practices in violation of existing law.
 "I have been pushing this concept for a decade," Specter said. "Some view this as a radical approach because it takes the executive branch out of the equation. But we have seen repeatedly that the executive branch is unable to handle these issues effectively. Injured parties, I believe, should be able to seek redress in our federal courts for unfair trade practices."
 Specter's bill would also include some of the provisions included in legislation passed by the House, such as reauthorizing the "Super 301" provision of the Omnibus Trade and Competitiveness Act of 1988 for five years. This provision, which expired in 1990, mandates negotiations with and possible sanctions against nations engaged in unfair trade practices.
 The bill would also obligate the administration to initiate investigations against Japan for limiting access to its markets for autos and auto parts and against Korea, Taiwan and Japan for rice and rice products and to negotiate trade agreements to eliminate the barriers to these markets for U.S. producers.
 -0- 7/24/92
 /EDITORS: Following the meeting at 10 a.m., Specter will hold a press conference on the steps of the USX Building to explain his new bill, "The Trade Expansion and Enforcement Act of 1992," the chances for getting it enacted in this Congressional session and what the bill will endeavor to accomplish./
 /CONTACT: Yvonne O'Connor of U.S. Sen. Arlen Specter's Office, 412-644-3400/
 (X) CO: USX Corporation; United Steelworkers of America ST: Pennsylvania IN: MNG SU:


CD-JS -- PG003 -- 2981 07/24/92 11:11 EDT
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Date:Jul 24, 1992
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