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To: James Strauss who wrote (6870)	8/5/1999 11:35:00 PM
From: Jean-Pierre Abe	Read Replies (2) \| Respond to of 7006

dailynews.yahoo.com Thursday August 5 5:13 PM ET Clinton Vows To Fight Unfair Steel Trade WASHINGTON (Reuters) - President Clinton Thursday vowed to fight unfair trade practices by other countries that he said have contributed to a surge of steel imports that have hurt the domestic industry. In a meeting with industry and union representatives as well as lawmakers from steel-producing regions, Clinton and administration officials outlined a 12-point plan to deal with industry concerns about a high level of imports. ''I am determined to continue taking forceful action to address the unfair trade practices that have contributed significantly to this crisis,'' Clinton said in a statement issued after the White House meeting. ''We must ensure that our actions are consistent with our commitment to open markets and respect for international trade rules, just as we insist that other countries do the same,'' Clinton added. Many of the points in the action plan outlined by the White House Thursday are a continuation of policies the administration has been pursuing since the industry launched a campaign last year to raise public awareness about the import surge and to put pressure on lawmakers. The administration said it will continue to talk with Japan, South Korea and other steel-producing countries about reducing exports to the United States to pre-crisis levels and about restructuring their industries to squeeze out excess capacity. The administration also said it would hold an international conference to discuss unfair trade practices and excess global capacity in the steel industry. Commerce Secretary William Daley told reporters following the meeting that the president would sign into law a bill passed by Congress that will provide $1.5 billion in loan guarantees to cash-strapped steel and oil and gas producers, who were hit by falling oil prices last year. The bill would give $1 billion in emergency loan-guarantees to steelmakers, $500 million for oil and natural gas producers, and $30 million for iron ore companies. Daley, who is a member of the board that will be set up by the legislation to administer the loan program, said the group would move quickly to get the program in place. As part of its 12-point plan to help the steel industry, the administration pledged that in the round of global trade liberalization talks to be launched at the end of the year the United States would resist efforts by other countries to weaken U.S. anti-dumping laws. Industry representatives said they did not get everything they wanted from the administration, but felt satisfied that the White House was taking their concerns seriously. ''We felt for a long time that this crisis was not over,'' George Becker, president of the United Steelworkers of America, told reporters following the White House meeting. ''I am very gratified with this. There is a clear indication from the administration ... that this is something that we have to deal with.''