U.S. Steel Imports Tumble 34.8%

U.S. steel imports in July plunged 34.8% from a year earlier, the government said Tuesday in a report that suggested import tariffs imposed by the Bush administration were having an effect.

U.S. steel imports in July fell to 1.82 million metric tons from 2.79 million in July 2002, the Commerce Department said.

But in its preliminary data for July, the department said imports rose 17% from June’s 1.56 million metric tons.

June imports were revised upward from 1.55 million metric tons reported a month earlier.

The Commerce Department’s report includes cumulative imports for the first six months of the year. It said steel imports totaled 10.82 million metric tons, down 20% from 13.53 million in the same 2002 period.

Commerce said the rise in July from June reflected increases primarily in blooms, billets and slabs, along with increases primarily from Brazil. President Bush imposed tariffs of up to 30% in March 2002 to help the U.S. steel industry get back on its feet after more than 30 bankruptcies.

In a midterm review, the U.S. International Trade Commission will deliver reports on the tariffs to Bush on Sept. 19. It will look at the way the industry has used the tariffs to restructure and the duties’ effect on steel purchasers, such as automakers.

The European Union is threatening to place tariffs on more than $2 billion of U.S. goods if a World Trade Organization appeals panel rules against the Bush duties this year.

The Commerce Department figures are reported on a census basis and are not seasonally adjusted.