Trade commission to investigate steel tariffs

Following a request from the House Ways and Means Committee, the U.S. International Trade Commission instituted an investigation on steel-consuming industries and the competitive conditions with respect to the steel tariffs. The Commission will investigate the current competitive conditions facing the steel-consuming industries in the United States and how the tariffs and tariff-rate quotas imposed by the President on March 5, 2002, have affected those conditions.The Commission will also investigate how U.S. steel-consuming industries are faring in comparison to foreign competitors not subject to the tariffs. In addition, the Commission will provide an analysis of the potential economy-wide affects of these tariffs (e.g., on costs to steel consumers, tariff revenues entering the U.S. Treasury, income to steel producers and the net effect on the U.S. economy).The report is due to be submitted to the Ways and Means Committee by Sept. 20, 2003. A public hearing in connection with this investigation is scheduled for June 19, 2003 in Washington, DC.

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