Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

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Jan 9 9:30 AM EST

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To: LTK007 who wrote (11453)	3/17/1999 6:15:00 PM
From: LTK007	Read Replies (1) of 56537

OOPS! it was just the House,not the senate here is BS comment-- still hoping for a point or two.Bethlehem Steel Statement on Passage of HR 975 BETHLEHEM, Pa., March 17 /PRNewswire/ -- In response to media inquiries concerning the reaction of Bethlehem Steel (NYSE: BS - news) to the passage of H.R. 975 by the U.S. House of Representatives addressing steel import quotas, the following statement is attributable to Curtis H. Barnette, chairman and chief executive officer, Bethlehem Steel: ''The bipartisan action today by U.S. House of Representatives is clear recognition of the serious injury being caused to the American steel industry by unfairly traded steel imports, and that the application of our laws has not been effective to stop the damages being caused to our industry. This legislation deserves full consideration by the U.S. Senate within the framework of the overall trade law changes necessary to restore fair trade in steel and to provide all domestic industries with prompt and effective remedies under our trade laws when industries are injured by unfair trade. ''We will continue to work cooperatively with the Congress and the Administration. We believe that American trade policy and steel trade policy are at a crossroads. The United States had a $233 billion trade deficit in 1998, and the deficit this year may be even larger. Unprecedented damage has been caused to the American steel industry and other industries. ''We believe that trade must be open, market-based, rule-based and fair, and that trade laws must be enforced when trade is unfair and injurious.''

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