[Congressional Record (Bound Edition), Volume 146 (2000), Part 17]
[House]
[Page 24912]
[From the U.S. Government Publishing Office, www.gpo.gov]



             UNITED STATES STEEL INDUSTRY BLEEDING TO DEATH

  (Mr. VISCLOSKY asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. VISCLOSKY. Mr. Speaker, as we meet today, the United States steel 
industry continues to bleed to death. Let me give you but one example. 
LTV stock has plummeted 75 percent since January, and its year-end 
losses are likely to approach $2 per share.
  On October 5, they essentially gave away two tin mills, one in Gary, 
Indiana, the other in Aliquippa, Pennsylvania. Most importantly, today 
they are going to announce that one out of every ten people who 
yesterday were working in East Chicago, Indiana, are not going to 
continue to work there. There will be 30 people today, one out of every 
ten employees, who will not have a job at day's end.
  That is why, under the leadership of the gentleman from New York (Mr. 
Quinn) and the gentleman from West Virginia (Mr. Mollohan), 236 of us 
have asked the President to initiate a 201 trade action on those 
countries and those companies that are dumping steel and violating our 
law.
  It is time that the administration initiate that 201 trade action, 
and it is also time that the administration should immediately take 
action against non-WTO member nations who import steel in order to stem 
the tide of illegally imported steel from some of the worst violators 
of our trade laws.

                          ____________________