Bethlehem Steel Corporation
For Immediate Release

BETHLEHEM, Pa., June 26, 2001 - Bethlehem Steel Chairman, President and Chief Executive Officer, Duane R. Dunham, commended the President and his Administration for formally initiating a Section 201 trade case, stating, �Anyone who has seen the President in action knows that when he believes in something, he will fight for it. President Bush has been in office for only five months, but it is obvious that the facts have convinced him that the uncontrolled increase in steel imports is devastating our industry and having a negative impact on the economy, and we welcome his action.�

Mr. Dunham�s remarks followed action by U. S. Trade Representative Robert B. Zoellick requesting that the International Trade Commission launch an investigation into whether increased imports are causing serious injury to the U. S. steel industry.

�The fundamental cause of the steel crisis is massive foreign overcapacity that has been created and sustained by government subsidies, protected markets and anticompetitive practices,� added Mr. Dunham. �The inclusion of so many products produced by the four industry categories is indicative of the widespread, deep and profound injury that has been suffered by the domestic steel industry, including Bethlehem.�

Bethlehem Steel endorses the step taken by the President in anticipation of a remedy to provide relief from the extensive and sustained high level of imports that have lowered the volume of products sold by Bethlehem and resulted in a precipitous decline in value of products sold.

Bethlehem also commended the President for the comprehensive nature of his request that included a directive to negotiate with our trading partners to reduce excess foreign steel capacity and to establish additional disciplines on subsidies and other market-distorting practices.

The initiative of the Bush Administration covers products produced at all of Bethlehem�s facilities in Pennsylvania, New York, Indiana and Maryland. #

Return to News Releases