    [Public Papers of the Presidents of the United States: George W. Bush (2003, Book II)]
    [December 4, 2003]
    [Pages 1678-1679]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on the Decision To Terminate Temporary Safeguards To Help the
    Domestic Steel Industry
    December 4, 2003

        Today, I signed a proclamation ending the temporary steel safeguard
    measures I put in place in March 2002. Prior to that time, steel prices
    were at 20-year lows, and the U.S. International Trade Commission found
    that a surge in imports to the U.S. market was causing serious injury to
    our domestic steel industry. I took action to give the industry a chance
    to adjust to the surge in foreign imports and to give relief to the
    workers and communities that depend on steel for their jobs and
    livelihoods.

    [[Page 1679]]

    These safeguard measures have now achieved their purpose, and as a
    result of changed economic circumstances it is time to lift them.
        The U.S. steel industry wisely used the 21 months of breathing space
    we provided to consolidate and restructure. The industry made progress
    increasing productivity, lowering production costs, and making America
    more competitive with foreign steel producers. Steel producers and
    workers have negotiated new groundbreaking labor agreements that allow
    greater flexibility and increase job stability. The Pension Benefit
    Guaranty Corporation has guaranteed the pensions of eligible
    steelworkers and retirees and relieved the high pension costs that
    burdened some companies. My jobs-and-growth plan has also created more
    favorable economic conditions for the industry, and the improving
    economy will help further stimulate demand.
        To keep the positive momentum going, we will continue our steel
    import licensing and monitoring program so that my administration can
    quickly respond to future import surges that could unfairly damage the
    industry. We will continue negotiations with our trading partners
    through the Organization of Economic Cooperation and Development to
    establish new and stronger disciplines on subsidies that governments
    grant to their steel producers. We will continue to pursue economic
    policies that create the conditions for steel producers, steel
    consumers--who rely on steel to produce goods ranging from refrigerators
    to auto parts--and other U.S. manufacturers to succeed.
        I strongly believe that America's workers can compete with anyone in
    the world as long as we have a fair and level playing field. Free trade
    opens foreign markets to American products and creates jobs for American
    workers, and an integral part of our commitment to free trade is our
    commitment to enforcing our trade laws. I am pleased the steel industry
    seized the opportunity we provided to regain its competitiveness and
    assist steelworkers and their communities. As a result, U.S. steel
    companies are now once again well-positioned to compete both at home and
    globally.

    Note: The proclamation of December 4 is listed in Appendix D at the end
    of this volume.