FOR IMMEDIATE RELEASE Contact: Courtney Duke
July 28, 2004 The PBN Company


Washington, DC – The Consuming Industries Trade Action Coalition (CITAC) stated today that the increase in steel imports in June, announced by the Department of Commerce, will help U.S. steel consumers, who cannot obtain enough steel from domestic suppliers to meet their increasing demand for steel products.

The Commerce Department's announcement on preliminary data for steel imports showed that imports in June were 2.9 million tons, an increase of 26% from May 2004 levels. For the year to date through June, imports of steel products are approximately 14 million tons, an increase of nearly 30% from 2003 levels. However, steel imports continue to be far below the pre-Section 201 tariff levels. Imports of semifinished products (such as slabs) used exclusively by steel producers continued to show large increases in June.

Michael Fanning, CITAC Chairman and Vice President of Corporate Affairs for Michelin North America, stated, “The increase in steel imports is a result of a healthy growth in demand for steel products by U.S. steel users and the steel industry itself. Import levels need to continue to rise to help U.S. manufacturers stay competitive.”

“The United States does not produce enough steel to meet domestic demand for steel products,” Fanning continued. “The U.S. manufacturing sector is still recovering from a sustained economic downturn and needs steel imports to remain competitive. The U.S. government continues to hold down steel supply by allowing prohibitive duties on steel imports to remain in place — some for a decade or longer. Increased access to steel imports will help boost the U.S. economy and cannot possibly injure healthy and profitable domestic steel producers.”

CITAC is a coalition of companies and organizations committed to promoting a trade arena where U.S. consuming industries and their workers have access to global markets for imports that enhance the international competitiveness of American firms.




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