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SPECIALTY STEEL LEADERS SEEK VRA EXTENSION MEETING WITH PRESIDENT BUSH

 SPECIALTY STEEL LEADERS SEEK VRA EXTENSION MEETING
 WITH PRESIDENT BUSH
 WASHINGTON, April 8 /PRNewswire/ -- Reaffirming its request for a three-year extension of the Voluntary Restraint Arrangements (VRAs) covering specialty steel which expired on March 31, the Specialty Steel Industry of the United States (SSIUS) again has requested a personal meeting with President Bush to discuss "the current state of the U.S. specialty steel industry and the unique circumstances facing that industry."
 In a letter signed by SSIUS Chairman Robert E. Heaton and delivered to the White House yesterday, Heaton states that "the critical circumstances facing our industry compel us to ask you to reconsider our request for an extension of the VRAs on specialty steel." Noting the administration's effort to negotiate a strong Multilateral Steel Agreement (MSA) as a means of addressing the fundamental problems facing the steel sector, Heaton states, "The fact is that today, there is no MSA, nor is an agreement likely in the near future."
 The SSIUS applauds the administration's strong stand in the MSA negotiations against attempts to weaken U.S. trade laws. According to the letter, the objective of an MSA was hampered by the industry's steel foreign trading partners, who sought to utilize the MSA negotiations as a vehicle for weakening U.S. trade laws and as a means of grandfathering past subsidy practices. Heaton warns that "the failure of the MSA negotiations reaffirms our belief that the domestic specialty steel market will be the target of an imminent import assault. During the VRA period, import penetration of specialty steel increased and virtually all of the VRA ceilings on specialty steel products were filled. This underscores the urgency of our concerns."
 On Feb. 24, prior to expiration of the VRA program, SSIUS had previously requested a meeting with the president.
 The Specialty Steel Industry of the United States represents virtually all 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 in excess of $6 billion.
 -0- 4/8/92
 /CONTACT: Bert Delano of the Specialty Steel Industry of the United States, 412-394-2813, or Meg Mullery for the Specialty Steel Industry of the United States, 202-342-8439/ CO: Specialty Steel Industry of the United States ST: District of Columbia IN: MNG SU: EXE


SB-DC -- DC011 -- 6171 04/08/92 10:58 EDT
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Publication:PR Newswire
Date:Apr 8, 1992
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