Japan, U.S. Sign Steel Pact: Japan and...
From Times Staff and Wire Service Reports
Japan, U.S. Sign Steel Pact: Japan and the U.S. have officially signed a new voluntary restraint agreement limiting Japanese steel imports to between 5% and 5.3% of total U.S. consumption for 30 months retroactive to last Oct. 1, the Japanese Foreign Ministry said. The new agreement replaced the old one, which expired last September. Japan will limit its steel exports to the United States to 5% of the U.S. consumption for the first 15 months. The ceiling will be raised to 5.3% in the next 15 months.
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