P.M. BRIEFING : Bush Heeds Steel Industry Pleas, Decides to Extend Import Quotas
President Bush has decided to extend the steel import quotas and a formal announcement is expected as early as Tuesday, Administration officials said today.
The American steel industry has urged an extension of the quotas, which were instituted in 1984 for five years and expire Sept. 30.
Bush had a major decision-making meeting on the subject about a month ago after hearing all sides of the question.
U.S. steel producers base their claim for restraints on imports of government subsidized foreign steel, which they charge gives the exporting countries an unfair advantage in the United States.
Officials did not comment on a report by The New York Times that Bush will extend the steel import quotas for up to four years in a package that anticipates an international agreement to wipe out manufacturing subsidies given by foreign governments to their industry.
The newspaper said the goal is to eliminate foreign programs that plow billions of government money into steel production. Among the countries subsidizing their industries are France, Italy, Spain, Portugal, Britain and Brazil.
U.S. industry officials doubt those governments could be persuaded to stop the practice.
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