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For Immediate Release WEIRTON, W.VA. – John Walker, Weirton Steel Corp. president and chief executive officer, said the U.S. is taking the correct stand against today’s World Trade Organization (WTO) interim ruling that President Bush’s tariffs on steel imports violate global trading rules. Reportedly, the Office of the U.S. Trade Representative will appeal the 1,000 page decision. A final WTO decision is expected next month. An interim decision has never been reversed. "This comes down to our laws versus the WTO’s rules. It comes down to whether or not our government will continue to help us survive import surges that bring financial hardships to U.S. steelmakers and cause their steelworkers to lose their jobs. We know these surges include significant amounts of steel sold here that violate our trade laws. It’s good to hear our government will stand firm," Walker said. "In the end, if the WTO rules against us, I sincerely hope our government thumbs its nose at them and permits the tariff program to run its course." In March 2002, President Bush imposed descending tariffs for three years on 16 types of steel imports. The WTO’s decision is the result of numerous nations, including Japan and members of the European Union, who have collectively challenged the tariff program. Bush started the tariffs under the Fair Trade Act of 1974. The law was designed to give the president authority to take action if the government finds evidence that the industry has been or could be seriously harmed by increased imports. "The president’s decision was not haphazard. It came after our government conducted an exhausting investigation on the effects of steel imports on domestic steel producers – far more thorough than the challenge made by our trading partners," Walker commented. "While the Fair Trade Act only determines serious harm and not illegal trading practices when considering tariff action, we’ve proven in past trade cases that various countries have violated our laws with their dumped steel and subsidized products. They have made a lot of money at the expense of our steel companies and workers. We cannot allow the flood gates to reopen and create another steel import crisis." Weirton Steel is the seventh largest U.S. integrated steel producer.
Weirton Steel Corp. Media Contact:
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