[Congressional Record Volume 149, Number 36 (Thursday, March 6, 2003)]
[Extensions of Remarks]
[Page E384]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    PRESIDENT'S LEADERSHIP ON STEEL

                                 ______
                                 

                        HON. ROBERT B. ADERHOLT

                               of alabama

                    in the house of representatives

                        Wednesday, March 5, 2003

  Mr. ADERHOLT. Mr. Speaker, on March 5 a year ago, President Bush 
boldly gave temporary trade relief to our domestic steel industry. I 
believe his plan is succeeding.
  It is my understanding that since 1973, Alabama's steel industry had 
steadily lost 16,000 employees, or about half the labor force. We 
needed a bold plan.
  I am proud to have supported the President and his initiative to stop 
the illegal dumping of foreign steel in the United States. His proposed 
Section 201 trade relief over three years was also intended to leverage 
negotiations to address the root cause of the world's surplus capacity, 
what the President called a ``50-year legacy of foreign government 
intervention in the market and direct financial support of their steel 
industries.''
  Well, a year later, some of our steel companies, including those in 
Alabama, are actually rehiring workers as domestic steel prices have 
firmed up, although they are still below the level two years ago. Also, 
to the best of my understanding, the critics' predictions of hefty 
price increases in consumer goods proved mistaken. And I am pleased 
that international negotiations are underway, thanks to the leverage of 
the Section 201 tariffs.
  The results of the President's leadership on steel look good so far. 
I urge him to finish his program on schedule.

                          ____________________