IV

105TH CONGRESS

2D SESSION H. CON. RES. 328

Calling on the President to take all necessary measures to respond to the

surge of steel imports resulting from the financial crises in Asia, Russia,

and other regions, and for other purposes.

IN THE HOUSE OF REPRESENTATIVES

SEPTEMBER 18, 1998

Mr. REGULA (for himself, Mr. MURTHA, Mr. QUINN, Mr. VISCLOSKY, Mr.

ENGLISH of Pennsylvania, Mr. COYNE, Mr. LIPINSKI, Mr. WELLER, Mr.

BROWN of Ohio, Ms. KAPTUR, Mr. WALSH, Mr. MCINTOSH, Mr. CARDIN,

Mr. MOLLOHAN, Mr. KUCINICH, Mr. STUPAK, Mr. BOSWELL, Mr.

BISHOP, Mr. TRAFICANT, Mr. ADERHOLT, Mr. SNYDER, Mr. BACHUS,

Mr. EHRLICH, Mr. BRADY of Pennsylvania, Mr. DOYLE, Mr. HOLDEN,

Mr. LEACH, Mr. LEVIN, Mr. PALLONE, Ms. STABENOW, Mr. MCHALE,

Mr. COSTELLO, Mr. NEY, Mr. JENKINS, Mr. BARCIA, Mr. BROWN of

California, Mr. BUNNING, Mr. KLINK, Mr. BORSKI, Mr. BLAGOJEVICH,

Mr. OBERSTAR, Mr. CALLAHAN, Mr. SOUDER, Mr. ROEMER, Mr.

SAXTON, Mr. MCDADE, Mr. PARKER, Mr. BILIRAKIS, Mr. GEKAS, Mr.

BALLENGER, Mr. CANNON, Mr. CRAMER, Mr. EVANS, Mr. GREEN, Mr.

PETERSON of Pennsylvania, Mr. PITTS, Mr. SHUSTER, Mr. FOX of Pennsylvania, Mr. PASTOR, Mr. GOODLING, Ms. DELAURO, Mr. RAHALL, Mr.

BERRY, Mr. EHLERS, Mr. HOBSON, Mr. HINCHEY, Mr. CONYERS, Mr.

DAVIS of Illinois, Mr. FILNER, Mr. MASCARA, Mr. SAWYER, Mr. UPTON,

Mr. VENTO, Mr. WHITFIELD, Mr. DINGELL, Mr. WISE, and Mr. STOKES)

submitted the following concurrent resolution; which was referred to the

Committee on Ways and Means

CONCURRENT RESOLUTION

Calling on the President to take all necessary measures to

respond to the surge of steel imports resulting from

the financial crises in Asia, Russia, and other regions,

and for other purposes.
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•HCON 328 IH

Whereas the current financial crises in Asia, Russia, and

other regions have involved massive depreciation in the

currencies of several key steel-producing and steel consuming countries, along with a collapse in the domestic

demand for steel in these countries;

Whereas the crises have generated and will continue to generate surges in United States imports of steel, both from

the countries whose currencies have depreciated in the

crisis and from steel producing countries that are no

longer able to export steel to the countries in economic

crisis;

Whereas United States imports of finished steel mill products

from Asian steel producing countries—the People’s Republic of China, Japan, Korea, India, Taiwan, Indonesia,

Thailand, and Malaysia—have increased by 79 percent in

the first 5 months of 1998 compared to the same period

in 1997;

Whereas year-to-date imports of steel from Russia now exceed the record import levels of 1997, and steel imports

from Russia and Ukraine now approach 2,500,000 net

tons;

Whereas foreign government trade restrictions and private restraints of trade distort international trade and investment patterns and result in burdens on United States

commerce, including absorption of a disproportionate

share of diverted steel trade;

Whereas the European Union, for example, despite also being

a major economy, in 1997 imported only one-tenth as

much finished steel products from Asian steel producing

countries as the United States did and has restricted im-
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•HCON 328 IH

ports of steel from the Commonwealth of Independent

States, including Russia;

Whereas the United States is simultaneously facing a substantial increase in steel imports from countries within

the Commonwealth of Independent States, including Russia, caused in part by the closure of Asian markets;

Whereas the United States, through the International Monetary Fund, generously participates in a bailout of the crisis countries on terms that do not deter and in fact encourage them to export their way out of the crisis; and

Whereas there is a well-recognized need for improvements in

the enforcement of United States trade laws to provide

an effective response to such situations: Now, therefore,

be it

1 Resolved by the House of Representatives (the Senate

2 concurring), That the Congress calls upon the President

3 to—

4 (1) pursue enhanced enforcement of United

5 States trade laws with respect to the surge of steel

6 imports into the United States, using all remedies

7 available under those laws including offsetting du8 ties, quantitative restraints, and other authorized re9 medial measures as appropriate;

10 (2) pursue with all tools at his disposal a more

11 equitable sharing of the burden of accepting imports

12 of finished steel products from Asia and the coun13 tries within the Commonwealth of Independent

14 States;
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•HCON 328 IH

1 (3) establish a task force within the executive

2 branch with responsibility for closely monitoring

3 United States imports of steel; and

4 (4) report to the Congress by no later than

5 January 5, 1999, with a comprehensive plan for re6 sponding to this import surge, including ways of lim7 iting its deleterious effects on employment, prices,

8 and investment in the United States steel industry.

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