[Congressional Record Volume 145, Number 48 (Thursday, March 25, 1999)]
[Extensions of Remarks]
[Page E585]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]


   PROVIDING FOR CONSIDERATION OF H.R. 975, REDUCING VOLUME OF STEEL 
   IMPORTS AND ESTABLISHING STEEL IMPORT NOTIFICATION AND MONITORING 
                                PROGRAM

                                 ______
                                 

                               speech of

                             HON. BOB RILEY

                               of alabama

                    in the house of representatives

                       Wednesday, March 17, 1999

  Mr. RILEY. Mr. Speaker, I rise today in strong support of H.R. 975, 
the Steel Recovery Act. For almost two years now, the United States has 
seen a flood of illegal steel imports enter our markets from Asia, 
Russia and Brazil. In the meantime, more than 10,000 Americans have 
lost their jobs, including over 500 in Alabama.
  These foreign nations are dumping their steel on our markets in 
direct violation of U.S. trade laws. Hard-working Americans are loosing 
their jobs because foreign companies are breaking our laws. Numerous 
American steel companies have been forced into bankruptcy as a result 
of foreign countries sabotaging our markets and dumping their steel at 
below production costs. In my home state of Alabama, one company is in 
dire financial trouble, putting 1,906 jobs in jeopardy.
  Current trade laws are too cumbersome and too slow in providing short 
term relief from illegal dumping. This legislation will help us return 
to the pre-crisis import levels of 1994-1997. Currently, Japan's steel 
imports into the United States are up 96% from its pre-crisis level. 
Moreover, Korea's imports are up 155% and Indonesia's are up 705%. If 
the current Administration will not act, Congress must!
  I support H.R. 975 because it contains key provisions that will help 
stop this crisis. By levying tariff surcharges, setting quotas and 
establishing programs to ensure that U.S. anti-dumping trade laws are 
not being violated, we can once again return to pre-crisis levels and 
ensure a level playing field for our domestic steel industry.
  I will not allow international interests to strong-arm our steel 
industry and hurt our economy. Neither should you! I urge you to join 
me today in supporting H.R. 975.

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