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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61641)	3/7/2002 3:44:03 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Taiwan fears U.S. steel tariffs will hurt profits sg.news.yahoo.com TAIPEI, March 6 (Reuters) - Taiwan's steel industry expressed concern on Wednesday that higher U.S. tariffs on steel imports could lead to a supply glut in other markets, intensify competition and hurt profitability. "If (exporters) have some difficulties exporting to the United States, where will they go?," said C.Y. Wang, chairman of the private Taiwan Steel & Iron Industries Association. "If there is some surplus tonnage circulating in the market, that will really lower the market price. If that happens, that will definitely affect Taiwan's steel product profitability," said Wang, former chairman of China Steel Corp <2002.TW>, Taiwan's top steel maker. The United States has slapped tariffs of up to 30 percent on a range of steel imports to help a struggling domestic industry hit by tough competition in a global steel glut, a move which fanned outrage among the world's major steel producers.