SPECIALTY STEEL IMPORTS 'CONTINUE TO FLOOD THE AMERICAN MARKET'
WASHINGTON, Sept. 30 /PRNewswire/ -- "Imports of specialty steel continue to flood the American market, injuring American companies and their skilled, well-paid employees," Robert E. Heaton, chairman of the Specialty Steel Industry of the United States (SSIUS), said today. He reported that stainless steel imports during the first seven months of 1993 (January-July) are up 55 percent over the same period last year. Imports for major specialty steel product lines during the first seven months of 1993 compared with last year's are tabulated below. Imports Imports (tons) (tons) Jan.-July Jan.-July Percent Product 1992 1993 Increase Stainless steel sheet & strip 115,021 196,941 71 Stainless steel plate 15,405 21,501 40 Stainless steel bar 25,598 34,226 34 Stainless steel rod 22,351 27,520 23 Stainless steel wire 11,388 13,366 17 Total 189,763 293,554 55 Tool steel 18,353 24,062 31 Electrical steel 51,745 66,238 28 Heaton said the industry, along with the United Steelworkers of America (USWA), filed three antidumping cases in 1992 and three more so far in 1993. One countervailing duty case has also been filed in 1993. Heaton indicated that additional trade cases seeking relief from foreign government subsidies and dumping practices are in preparation. Also, in a related statement today by Robert P. Bozzone, president and CEO of Allegheny Ludlum Corporation and a director of SSIUS, the industry reaffirmed its strong support for current U.S. trade laws. Bozzone said these laws "have proven essential to the industry's response to unfair international competition in the United States." He said that while trade laws remain imperfect, "there is no question that any weakening of their effectiveness -- either through the Multilateral Steel Agreement or the GATT -- will lead to an increase in unfairly traded imports and a consequent decrease in U.S. manufacturing capability and employment." His testimony was made to the House Judiciary Committee's subcommittee on Economic and Commercial Law. "Unfortunately, the industry has not only experienced unfair trade practices in its home market, it has also been prevented from freely exporting its steel to foreign markets. Japan limits imports of products that it manufactures there. European producers have been equally effective in restraining foreign competition by fixing the price of stainless steel at levels that U.S. producers could not match. Foreign governments have also employed a variety of techniques to inhibit import competition, such as restrictive import licensing systems and high tariffs," Bozzone said. He added: "While we have been quite successful in winning our cases, U.S. trade laws have only provided us with limited relief. The available statutory remedies are entirely prospective, providing little deterrence to unlawful conduct. Perhaps most importantly, U.S. industries that have suffered injury from subsidized or dumped goods are not compensated for their loss. For these reasons, we have supported Sen. Arlen Specter's (R-Pa.) legislation that allows a private cause of action for injury from unfair trade practices and violations of customs laws. We have also lent support to Sen. Howard Metzenbaum's (D-Ohio) efforts to amend U.S. antitrust laws to provide a remedy for companies injured by unfair competition from imports." The Specialty Steel Industry of the United States is a Washington- based trade association representing U.S. producers of stainless and alloy tool steels, electrical steels and other high technology metals. The industry employs approximately 35,000 men and women and has annual shipments of about $6 billion. -0- 9/30/93 /CONTACT: Bert Delano, 412-394-2813, or Meg Mullery, 202-342-8439, both for the Specialty Steel Industry of the United States/
CO: Specialty Steel Industry of the United States ST: District of Columbia IN: MNG SU:
MH-DC -- DC014 -- 7266 09/30/93 12:10 EDT
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|Date:||Sep 30, 1993|
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