Bush Administration Announces Plan to Seek Rollback of Most Steel Subsidies
October 8, 2002
The Bush administration has called for the worldwide elimination of most
government subsidies to steel makers. The proposal is intended to address the
global overcapacity that has plagued the industry for decades. The United States
announced its proposal at a meeting of 39 steel-producing countries held under
the auspices of the Organization for Economic Cooperation and Development
(OECD). The U.S. proposal would seek the elimination of substantially all
government subsidies to the steel industry, with the possible exceptions of
government support to close outdated steel plants and help to retrain laid-off
steel workers. The U.S. plan also would address such issues as eliminating
various trade barriers countries use to keep steel out of their markets.
For more information, contact Andrea Ewart or Ron Oleynik, toll free at
888-688-8500, or via e-mail at
aewart@hklaw.com and roleynik@hklaw.com,
respectively.