[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.