U.S. Govt Concerned Industry May Suffer From Cheap Imports
Bloomberg News
October 19, 1998, 2:03 a.m. PT
Washington, Oct. 19 (Bloomberg) -- U.S. administration
officials are concerned other U.S industries may suffer from
rising imports after the steel industry filed legal cases against
Japan, Russia and Brazil, charging they are selling in the U.S.
at unfairly low prices, the interactive edition of The Wall
Street Journal reported, citing various sources. Mark Levinson,
chief economist for the Union of Needle Trade, Industrial and
Textile Employees (UNITE), sees the first signs of cheap textile
imports, particularly from Indonesia, the edition said. James
Mack, vice president for government relations for the Association
for Manufacturing Technology, said many precision machine tools
from Taiwan and South Korea that were shipped to the U.S. earlier
this year and stored in warehouses are being taken out of
inventory and sold; an unnamed senior Clinton administration
official worries the semiconductor industry could be another
victim of an import surge if global instability increases, though
the industry's trade association said it hasn't seen clear signs
of that problem, the edition reported.
Micron Technology Inc. won language in the $500 billion 1999
budget agreement that seeks to prevent the International Monetary
Fund from financing South Korean computer chipmakers accused of
dumping their products in the U.S. |
