[Weekly Compilation of Presidential Documents Volume 35, Number 31 (Monday, August 9, 1999)]
[Page 1565]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on Action on Steel Imports

August 5, 1999

    Many steelworkers and communities are experiencing continuing 
hardship as a result of last year's sharp rise in steel imports. I am 
determined to continue taking forceful action to address the unfair 
trade practices that have contributed significantly to this crisis. But 
from the start, we have maintained that we must do it the right way. We 
must ensure that our actions are consistent with our commitment to open 
markets and respect for international trade rules, just as we insist 
that other countries do the same. My administration has executed a 
strategy of vigorous, timely enforcement of our trade laws and direct 
high-level engagement with major steel exporting nations. These actions 
have cut imports to pre-crisis levels.
    Now we must ensure that imports remain at pre-crisis levels and give 
the industry a chance to regain its competitiveness--even as we put in 
place measures to prevent any recurrence. Today I am releasing a Steel 
Action Plan containing a number of measures to identify and address 
factors that pose continuing risks for the health and vitality of U.S. 
steel communities and companies and the U.S. economy. These include a 
systematic analysis of foreign subsidies and market- 
distorting trade barriers for steel and steel inputs, an international 
conference on unfair practices that support economically unjustifiable 
production capacity, bilateral discussions with key steel exporters to 
ensure that they play by the rules of fair trade and eliminate market-
distorting subsidies, working with the international financial 
institutions to eliminate subsidies for steel production, enhancing our 
ability to detect incipient import surges before they happen, and 
strengthened enforcement of our trade laws.
    I will continue to work with steelworkers, the steel industry, and 
Members of Congress to attack unfair trade practices around the world.