For Immediate Release
Public Relations Division
Public Affairs Department
1170 Eighth Avenue
Bethlehem, PA 18016-7699
(610) 694-3711 - Phone
(610) 694-1509 - Fax
BETHLEHEM, Pa., February 16, 1999 -- Bethlehem Steel Corporation, Gulf States Steel, Inc.; IPSCO Steel, Inc.; Tuscaloosa Steel Company, U.S. Steel Group, a unit of USX Corporation; and the United Steelworkers of America announced the filing of trade law actions against the major exporters of cut-to-length plate products to the United States. Antidumping suits were filed against the Czech Republic, France, India, Indonesia, Italy, Japan, Macedonia and South Korea. Countervailing duty suits were filed against France, India, Indonesia, Italy, Macedonia, and South Korea. The petitioners accounted for 80 percent of shipments of cut-to-length steel plate product by domestic producers in 1998.
Dumped and heavily subsidized steel imports from major foreign producers have overwhelmed the U.S. market. These unfairly traded imports have caused prices to plummet and forced U.S. companies to cut back production significantly. The actions of these foreign producers have caused serious injury to our domestic industry. Our responsibility to our workers, our shareholders and our communities mandate that we use all tools available under the law to fight back against these unfair trade practices.
The cases filed today allege antidumping margins of as high as 119 percent and subsidy margins as high as 56 percent. Imports of cut-to-length plate products from the countries cited in these cases have increased by 521 percent since 1995. Imports from these countries now represent over 60 percent of all imports of cut-to-length plate products.
During the 1980's, the U.S. steel industry underwent a difficult restructuring during which it invested billions of dollars in modernizing its plants and technology and streamlining its employment. As a result, the domestic steel industry is among the world's most efficient steel producers. Many foreign producers have not made the commitment to investment and modernization that the U.S. industry and its workers have, and these foreign producers continue to rely on dumping and subsidization to compete. They often operate in closed home markets which allow them to engage in these unfair trade practices.
Consistent with the Administration's commitments, the industry seeks the full relief available under the law to ensure that these unfairly traded imports do not undermine America's steel companies and our workers. Our industry is committed to using the trade laws fully and aggressively to counter unfair trade.
