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For Immediate Release WEIRTON, W.VA. – Weirton Steel Corp.’s chief executive said while 2002 could be among the highest years for steel imports, the situation could be far worse if not for tariffs the Bush administration lodged against imports earlier this year. U.S. Census Bureau preliminary data released today revealed that steel imports jumped 5.7 percent from June’s 2.8 million net tons to 2.9 million net tons in July. Through July of this year, 17.8 million net tons of foreign steel have entered the U.S. When annualized, the total net tonnage for 2002 is 30.7 million. The past five years have been the highest on record for steel imports. The annual net tonnage totals include: 1997, 31.1 million; 1998, 41.5 million (record year); 1999, 35.7 million; 2000, 37.8 million; and 2001, 29.8 million. "Without the tariffs, prices would be much lower and import totals would be much higher. While we are not comfortable with this year’s import projections, we will take the opportunity three years of tariffs will provide to improve our competitiveness," said John H. Walker, Weirton Steel president and chief executive officer. Weirton Steel is the seventh largest U.S. integrated steel company.
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