James Oberstar: “Mr. Speaker, support for the Steel Recovery Act is not protectionism; it is a vote for fair trade in steel, fair trade…”

“Mr. Speaker, support for the Steel Recovery Act is not protectionism; it is a vote for fair trade in steel, fair trade in the U.S. and international marketplace. 1999, for the steel industry in America is what Yogi Berra once called deja vu all over again. We are seeing 1980 being repeated in 1999. In 1980, we had produced 120 million tons of steel, the highest steel production in the history of this country. Imports devastated the steel industry down to 80 million tons; 350,000 steelworkers lost their jobs. 10,000 people in my district, 10,000 workers in the iron ore mines of Minnesota, lost their jobs permanently. We went from a $450 million payroll down to less than $100 million in 18 months. We are not going to stand for that again. Look at what is happening just this year in the iron ore mining company: Eveleth Tachonite Company forced to have layoffs because foreign steel is taking away the market in the domestic United States, subsidized foreign steel. We have spent $50 billion in the steel industry in this country modernizing America's steel mills. We have the highest productivity, the highest quality steel, the lowest cost per man unit of steel produced in America in the whole world, and yet Russia, Brazil, Japan, Korea, other countries, are dumping steel in this country at $250 a ton less than we produce it right here at home.”