FOR IMMEDIATE RELEASE:
December 7, 2001

(Washington, DC) (December 7, 2001) -- The Specialty Steel Industry of North America (SSINA) reacted to the import relief recommendations proposed today by the U.S. International Trade Commission (ITC). .

The ITC recommendations were the next step in a trade investigation ordered by President Bush on June 5, 2001, and conducted under Section 201 of the 1974 Trade Act. Section 201 allows the President to restrict imports or impose stiff tariffs if the ITC finds in the affirmative. The specialty steel products covered include stainless steel bar, rod and wire and alloy tool steel.

According to SSINA Chairman H. L. Kephart, “We are pleased that all ITC commissioners recommended beneficial levels of import relief, some more helpful than others, to remedy the injury. The commissioners are mixed as to recommendations for import quotas and tariffs, including one commissioner’s recommendation for both quotas and tariffs. Similarly, the commissioners were divided on remedies lasting three and four years.”

Kephart expressed the appreciation of the industry saying, “The commissioners recognized that key segments of the industry have been injured by imports and need help. It was a complex and historical investigation and we are grateful for their hard work. We want to note, however, that other industry sectors, such as flat-rolled products, are struggling with imports in this weak economy. We will continue to monitor the actions of foreign producers and take action as necessary.”

“We will pursue with the Bush Administration our recommendations for import quotas on all the specialty steel products covered by the investigation,” Kephart continued. “We anticipate that the administration will recognize the need for strong, effective relief, particularly in light of these recessionary times and generally reduced demand for specialty steel products.” 

 Kephart reiterated that the specialty steel industry supports President Bush’s steel initiative, including worldwide negotiations to address production overcapacity and eliminate market distorting practices such as dumping and excessive foreign government subsidization.

SSINA is a Washington, DC-based trade association representing virtually all continental specialty steel producers. Specialty steels are high technology, high value stainless and other

specialty alloy products. While shipments of specialty steel account for only 2% of all steel shipped in North America, annual revenues of approximately $8 billion account for 14% of the total value of all steel shipped.

David A. Hartquist, an international trade attorney with the Washington, DC law firm of Collier Shannon Scott, PLLC, serves as lead counsel to SSINA.