EC 101 Article 04 Bush’s Probe Into Alleged Dumping Could Lead to Curbs on Steel Imports

EC 101 Article 04 Bush’s Probe Into Alleged Dumping Could Lead to Curbs on Steel Imports

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Bush's Probe Into Alleged Dumping Could Lead to Curbs on Steel Imports By KATHY CHEN and CLARE ANSBERRY Staff Reporters of THE WALL STREET JOURNAL WASHINGTON -- President Bush, in a move that could bring sweeping restrictions on steel imports, Tuesday called for an investigation into alleged dumping by foreign steel companies. The White House is hoping the steel investigation -- President Bush's most overtly protectionist move since taking office -- will help him shore up support from pro-labor Democrats for his trade agenda. But some of those same Democrats said steel restrictions won't be enough. Still, Tuesday's news is a huge victory for the U.S. steel industry, which has been complaining that cheap foreign steel has been flooding the U.S. market. But other U.S. industries that use foreign steel won't be so happy. The news is bound to spark complaints from auto makers and electrical- appliance companies, which use steel in their products. Restricting steel imports could result in higher prices for cars, refrigerators and other consumer goods. "This initiative will be designed to restore market forces to world steel markets and eliminate the practices that harm our steel industry and its workers," Mr. Bush said in a statement Tuesday. Mr. Bush called for the U.S. Trade Representative to ask the International Trade Commission to investigate whether imports are hurting the domestic industry. He also asked senior administration officials to start talks with U.S. trade partners on reducing steel production and eliminating subsidies world-wide. Under Section 201 of the 1974 Trade Act, the Indeed, administration officials said Tuesday that the investigation is part of the White House's effort to bolster trust between the administration and Congress. President Bush wants Congress to grant him
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EC 101 Article 04 Bush’s Probe Into Alleged Dumping Could Lead to Curbs on Steel Imports

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