    [Weekly Compilation of Presidential Documents Volume 35, Number 1 (Monday, January 11, 1999)]
    [Pages 17-18]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    Letter to Congressional Leaders Transmitting a Comprehensive Plan for
    Responding to the Increase in Steel Imports

    January 7, 1999

    Dear Mr. Speaker  (Dear Mr. President:)

        I am transmitting the attached Report to Congress on a Comprehensive
    Plan for Responding to the Increase in Steel Imports in response to the
    request from the Congress described in section 111 of the Omnibus
    Consolidated and Emergency Supplemental Appropriations Act, 1999 (Public
    Law 105-277 of October 21, 1998).
        As the global financial crisis has unfolded, it has touched the
    lives of many Americans. I am very concerned about the surge in low-
    priced steel imports into the United States and its impact on our
    companies, workers, and communities. Our steel industry and workers have
    taken difficult and commendable steps over the past 2 decades to make

    [[Page 18]]

    America's steel industry a world class competitor.
        Our goal in this comprehensive action plan is clear: we seek to
    ensure that competitive American steel companies and steel workers have
    the opportunity to compete fairly and that they not be asked to bear an
    unfair share of the burden of a global financial crisis they did not
    create. The plan outlined in this report details our actions to
    vigorously and expeditiously enforce our own trade laws, engage major
    steel exporting and importing countries to enforce fair trade and fairly
    share the import burden, work with the IMF and our foreign partners to
    address the financial crisis that has contributed to the current surge
    of steel imports, and provide American steel communities, workers, and
    companies with the resources they need to adjust to the forces of
    globalization.
        I will continue to make clear my deep personal concern about the
    steel situation, as I have done in recent statements. I will continue to
    engage leaders of Japan, Russia, the Republic of Korea, and the nations
    of Europe with the goal of ensuring that they follow fair trading
    practices, fairly share the burden of absorbing additional steel
    imports, and respect established international rules, including
    prohibitions on subsidization.
        The solution to the financial crisis and the crisis facing our steel
    industry is not for us, or for any other nation, to go backward or turn
    inward. The solution is, instead, for America to continue to lead the
    world in stemming the current financial crisis and creating an open,
    rules-based trading system. At this critical juncture, it is essential
    that all nations remain committed to open markets.
        Open and fair trade is absolutely essential for both global economic
    recovery and continued U.S. prosperity. It is essential that all nations
    respect international trade rules to ensure that the trading system
    commands the confidence of the American people. Maintaining strong trade
    laws and vigorous enforcement will continue to be a critical element of
    my trade policy, just as I will continue to lead efforts to open markets
    around the world.
        My Administration will continue to monitor developments in the steel
    industry and to consult with representatives of steel-producing and -
    consuming industries and labor, Members of Congress, and our trading
    partners, and we will consider additional actions as circumstances
    warrant. We will continue to work closely with Members of Congress in
    ensuring an effective response to this serious matter.
        Sincerely,
                                                William J. Clinton

    Note: Identical letters were sent to J. Dennis Hastert, Speaker of the
    House of Representatives, and Albert Gore, Jr., President of the Senate.
    An original was not available for verification of the content of this
    letter.