IV
105TH CONGRESS
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 con-
suming countries, along with a collapse in the domestic
demand for steel in these countries;
Whereas the crises have generated and will continue to gen-
erate significant increases in United States imports of
steel, both from the countries whose currencies have de-
•HCON 350 IH
preciated 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 Re-
public of China, Japan, Korea, India, Taiwan, Indonesia,
Thailand, and Malaysia—have increased by over 70 per-
cent in the first 5 months of 1998 compared to the same
period in 1997;
Whereas year-to-date imports of steel from Russia now ex-
ceed 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 re-
straints of trade distort international trade and invest-
ment 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-
ports of steel from the Commonwealth of Independent
States, including Russia;
Whereas the United States is simultaneously facing a sub-
stantial increase in steel imports from countries within
the Commonwealth of Independent States, including Rus-
sia, 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 enforce-
•HCON 350 IH
ment 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 im-
ports 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 prod-
ucts and to increase access to their markets;
(3) closely monitor United States imports of
steel and make the data gathered from such mon-
itoring 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 in-
dustry.
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