U.s. Steel Protection : Advancement Options

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Cody Goodin U0352255 ECON-5550-001 U.S. STEEL PROTECTION--ADVANCEMENT OPTIONS I. ISSUE: As of December of this year, a complete report has been announced via The United States International Trade Commission (USITC) affirming damages to U.S. steel manufacturers from imports abroad. Because of additional broad domestic concerns, including bankruptcies with domestic steel manufacturers, immediate multifaceted relief is necessary. Domestically, early in this same year, imports have increased and have been negatively coupled with slowed industrial growth. Abroad, foreign firms may attempt to retaliate against U.S. exports or seek other detrimental concessions. Because of the divisiveness between these entities, it is necessary to find…show more content…
market. As a result, the union of United Steelworkers of America would launch a multi-million dollar marketing campaign denoted as “Stand Up for Steel,” while also attempting to wield influence through The Congress and executive branch. Here the group pushed for import quotas and the implementation of a Section 201 arrangement. Despite this, the U.S. steel industry would subtly oppose the union positions vis-à-vis a Section 201 and quotas, before eventually capitulating. Particularly in the case of the former, the industry feared the risks a Section 201 could bring. Further, with the conclusion of Bush and Reagan administrations’ voluntary export restraints (VER), anti-dumping cases would become the largest aim and solution for the industry. Indeed, numerous steel firms would initiate anti-dumping cases in 1998 against Russia, Japan, and Brazil, where the union would eventually join them. Here, momentum against the Clinton administration would build via Senators Arlen Specter (R-PA) and John Rockefeller (D-WV) in easing Section 201 implementation. Coupled with this, a declaration by way of The House would demand a ban on inequitable steel imports from several countries for one year. Despite their condolences the Clinton administration would be skeptical about any sharp response. Here, Treasury Secretary Robert Rubin would hold
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