as my colleagues today are point out, the latest trade figures are in and they confirm what we feared but also what we expected. They confirm, Mr. Speaker, that the steel dumping crisis is not over. In fact, just the opposite, they confirm that our American steel companies and our American steel families remain in grave danger. It turns out that the recent drop in imports was not the start of a trend, it was only our trading partners catching their breath and then pumping up their March shipments by 25 percent. That includes a 39 percent increase from Japan and a 54 percent increase from Brazil, two of the main targets of complaints filed by our U.S. steelmakers. It is clear that these countries are not very impressed with America's resolve to enforce our trade laws. What about our steelmakers? How are imports affecting them? Thanks to imports, LTV is reporting a first quarter loss of $29 million; Bethlehem a loss of $26 million, and in my district, Weirton Steel is reporting a loss of almost $28 million, the worst in 6 years. Seven hundred Weirton Steel employees remain out of work, putting a terrible strain on communities all along the upper Ohio Valley. Mr. Speaker, our trading partners do not care about our communities. They do not care about our families. They do not even care about following our trade laws. But this Congress and this administration must care, because when the playing field is level, we can compete with anyone on Earth.
Alan B. Mollohan: “as my colleagues today are point out, the latest trade figures are in and they confirm what we feared but also what we…”
On the recordMay 4, 1999
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govinfo.govEditor's note · Context
Addressing the ongoing steel dumping crisis and its impact on American steel companies and workers.
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