C. H. Barnette Responds to Commerce
Ruling of Critical Circumstances
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., November 23, 1998 -- Bethlehem Steel Corporation's chairman and chief executive officer, Hank Barnette, released the following statement regarding the preliminary declaration of "critical circumstances" by the U.S. Department of Commerce in the hot rolled carbon steel antidumping cases:
"We are very pleased that the Department of Commerce announced today its preliminary finding of 'critical circumstances' on Russia and Japan with respect to the hot rolled carbon steel cases. We understand from the Commerce Department Fact Sheet that the decision was based upon preliminary findings that:
1. Imports from Russia and Japan have increased by about 100 percent during the period examined.
2. With respect to Russia, there is a history of dumping findings on Russian hot rolled steel in third countries.
3. With respect to Japan, based on the size of the alleged margins and other factors, importers of Japanese steel knew or should have known that the imports were dumped and were likely to cause injury to the U.S. industry.
4. Finally, there was evidence that importers had knowledge that dumping cases were coming.
"With respect to Brazil, Commerce determined there was insufficient evidence of critical circumstances at this time. We regret this determination and have it under further review.
"If further investigation leads to a preliminary determination of dumping, then the Department of Commerce would require bonds on imports retroactively. Legal liability for the unfair trading would attach in February but would affect imports beginning mid-November.
"This is a further significant recognition that the unprecedented levels of unfairly traded imports are causing serious injury to the American steel industry, its employees and communities, and that even further prompt action is warranted.
"Imports for the third quarter from Russia and Japan were 2,046,334 net tons, an increase of 201 percent over the same period in 1997. In the first nine months of 1998, imports from Russia and Japan were 4,312,113 tons, up 124 percent over 1997."