Steel industry wants US to explore import relief

The US steel industry, faced with mounting imports and slumping markets, wants Washington to help it find ways to buck imports, Monitor correspondent Ron Scherer writes.

David Roderick, the chairman of US Steel, says Washington had been slow to react to the surge in steel imports making up 25 percent of the US markets. Speaking at the annual general meeting of the American Iron and Steel Institute, Mr. Roderick said the Reagan administration had encouraged steel imports to come into this country by being ''indecisive.''

He said steel imports to the United States are ''unfairly priced and unfairly traded.'' Mr. Roderick added the US Treasury Department allowed the Japanese yen to decline in value while the Japanese-US trade deficit worsened in favor of the Japanese.

He indicated US Steel was considering filing an ''antidumping'' suit against the Japanese for the importation of tubular steel products on the West Coast. To date, no major antidumping suits have been brought against the Japanese steelmakers, who are considered the lowest-cost producers in the world.

Mr. Roderick said there was a need for immediate government-to-government consultations, but he added, ''If the solution is unsatisfactory, there might be a need for a legislative solution.''

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK