```

[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[H. Con. Res. 350 Introduced in House (IH)]

  2d Session
H. CON. RES. 350

Calling on the President to take all necessary measures under existing 
 law to respond to the significant increase of steel imports resulting 
 from the financial crises in Asia, Russia, and other regions, and for 
                            other purposes.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                            October 12, 1998

   Mr. Archer (for himself, Mr. Regula, Mr. Bunning, Mr. Dickey, Mr. 
 English of Pennsylvania, Mr. Weller, and Mr. Aderholt) 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 under existing 
 law to respond to the significant increase of steel imports resulting 
 from the financial crises in Asia, Russia, and other regions, and for 
                            other purposes.

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 significant 
        increases 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 over 
        70 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 metric 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 
        imports 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; and
Whereas many would recognize that there may be a need to determine if there 
        should be improvements in the enforcement of United States trade laws to 
        provide an effective response to such situations: Now, therefore, be it
    Resolved by the House of Representatives (the Senate concurring), 
That the Congress calls upon the President to--
            (1) pursue vigorous enforcement of United States trade laws 
        relating to unfair trade practices with respect to the 
        significant increase of steel imports into the United States, 
        using all remedies available under all those laws;
            (2) pursue consultations with officials of Japan, Korea, 
        the European Union, and other nations to eliminate import 
        barriers that affect steel mill products and to increase access 
        to their markets;
            (3) closely monitor United States imports of steel and make 
        the data gathered from such monitoring available to the public 
        as soon as possible; and
            (4) report to the Congress by no later than January 5, 
        1999, on the impact that the significant increase in steel 
        imports is having on employment, prices, and investment in the 
        United States steel industry.
                                 <all>
```