[Congressional Record (Bound Edition), Volume 147 (2001), Part 9]
[Extensions of Remarks]
[Pages 12622-12623]
[From the U.S. Government Publishing Office, www.gpo.gov]



                       PROTECTING AMERICAN STEEL

                                 ______
                                 

                             HON. KEN LUCAS

                              of kentucky

                    in the house of representatives

                        Thursday, June 28, 2001

  Mr. LUCAS of Kentucky. Mr. Speaker, America's steel industry has been 
hit by an unprecedented flood of low-priced, imported steel. As a 
member of the bipartisan Congressional Steel Caucus, I have become 
increasingly frustrated as I have watched this flood of low-priced 
imports force our steel producers to either slow production or close up 
shop. That is why I was pleased by the Administration's recent decision 
to heed the advice of the Congressional Steel Caucus and the pleas of 
the steel industry by initiating an investigation under Section 201 of 
the Fair Trade Act of 1974. On Friday, June 22, 2001, U.S. Trade 
Representative, Robert Zoellick requested the International Trade 
Commission (ITC) to begin that investigation.
  Pursuing a Section 201 means that we will now investigate the illegal 
dumping of foreign steel into our marketplace. If the investigation 
finds that unfair trade practices were used by foreign countries in the 
United States, we will be entitled to seek relief from imported steel--
including imposing punitive tariffs and trade restrictions. This 
investigation is a step in the right direction. It puts foreign steel 
producers on notice that we will not simply stand by while unfairly 
subsidized steel imports leave our steel plants idle and our 
steelworkers without work, But we need to do more.
  Over 15,000 steelworkers nationwide have lost their jobs due to the 
current industry crisis. Since 1997, at least 18 steel companies have 
filed for bankruptcy. The health insurance of 70,000 steel-company 
retirees is now in jeopardy--that's 70,000 Americans faced with losing 
health care coverage precisely at the time in their life when they can 
afford it the least. Although a Section 201 investigation must report 
its findings within 120 days, the

[[Page 12623]]

ITC can take up to a year to figure out how to respond to unfair trade 
practices. America's steel industry needs relief now. Simply put, 
Congress needs to enact the Steel Revitalization Act of 200, H.R. 808. 
And the President needs to sign it.
  This bill directs the President to impose quotas, tariff surcharges, 
or other measures on imports. Among other things, it requires the 
President to negotiate enforceable, voluntary export restraint 
agreements. And the Steel Revitalization Act takes care of those who 
have suffered most from the current situation--the steelworkers who 
have lost their jobs. The bill establishes programs, such as the 
Steelworker Retiree Health Care Fund, to help these workers take care 
of their families. This fund would be accessible by all steel companies 
to provide health insurance to qualified retirees. The measures 
included in the Steel Revitalization Act would help families throughout 
Kentucky's Fourth Congressional District, from Shelby to Boyd Counties, 
who depend on our domestic steel industry for their livelihood.
  Our steelworkers work hard to ensure that quality American steel 
girds our growing communities. That's why I, along with 220 other 
members of Congress, have cosponsored the Steel Revitalization Act. I 
am determined to keep our domestic producers in this important industry 
from falling victim to unfair trade with foreign nations. Along with 
the Section 201 investigation, the Steel Revitalization Act would go a 
long way toward ensuring that steel remains a vital industry in 
Kentucky and the nation.

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