AMERICAN STEEL INDUSTRY ON EDGE - Victim Of "Free Trade"

(03/25/2003)

The U. S. Steel industry is floundering under pressure of foreign imports, with steel analysts saying there are indications the few remaining steel producers might go bankrupt. Steel is being imported from countries like China and Japan at cut-rate prices. Thirty-five steel companies have gone out of business and many others are hanging on. The industry is blaming President Bush for the loss of hundreds of industry jobs in West Virginia. Bush just gave the go ahead for some types of foreign steel to be shipped into the US, after supporting some restrictions last year. Mark Glyptis with the Independent Steel Works Union says that decision is costing the country thousands of jobs. Glyptis says during war, the US steel industry should be booming, but most companies are barely hanging on. Companies that make fighter jets, machine guns, missiles - are buying up the cheap steel to make their products. Glyptis says only certain types of foreign steel are being allowed into the states, but it's still hurting the industry.

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