Political Quotes

“This resolution puts our trading partners on notice that the U.S. Congress will not tolerate predatory trade practices. This resolution also pressures the administration to use its legal authority, including remedies that in my view could include offsetting duties and quantitative restraints, to the benefit of a strategic sector of the American economy. I call on the administration to act expeditiously to eliminate the damage that is being caused by illegal dumping of foreign steel products. Russia, Brazil, Korea, China, and Japan should not be allowed to export their economic mismanagement to the United States. Dumping is an unfair, intolerable and illegal trade practice that is hurting American steel companies and putting American jobs at risk. Due to their economic crises, foreign steel companies in these countries and elsewhere cannot sell their products for domestic consumption. In order to liquidate their inventory, foreign steel producers are dumping their products in the U.S. by selling at prices below production costs. Steel imports through May 1998 increased by a staggering figure, over 70 percent from last year, and now constitute one-third of the domestic steel market.”