Dumping orders are in effect for a number of steel import categories, and most products covered by these orders are already subject to import duties. In response to the recent surge in imports, the U.S. industry and workers have filed dumping cases against hot rolled steel from Japan and Russia, which account for a large proportion of the recent increase, as well as cases against Brazil. As you will hear from Undersecretary Aaron, the Commerce Department is administering these cases on an expedited basis. It has made early determinations on critical circumstances to afford the earliest possible relief consistent with U.S. law. We are also engaging Japan, Russia, Korea, other steel producing countries, and the European Union in consultations on steel trade beyond these particular products and cases, with the goal of ensuring that nations follow fair trading practices, respect established international rules, including refraining from subsidization, and fairly share the burden of absorbing additional steel imports.
Japan is responsible for almost half of the recent increase in steel imports.
During his trip to Japan ten days ago, the President expressed concern about the enormous increase in Japanese steel imports into the United States. Citing the 500 percent increase in imports of Japanese hot rolled steel into the United States, the President underscored the need for fair, rules-based trade and greater market opening, as well as the need to avoid market penetrations that have no relationship to market forces. As I noted earlier, hot rolled steel from Russia is already the subject of a dumping case. We are also looking for other ways to secure early and effective relief for the industry and its workers. As in Japan, President Clinton made clear in Korea, in public and in a private meeting with President Kim, that the openness of the U.S. market depends on nations playing by the rules.