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To: RealMuLan who wrote (5722)	5/6/2004 12:02:10 PM
From: RealMuLan	Respond to of 116555

Export Controls on Scrap Steel Would Harm the U.S. Economy by Sara J. Fitzgerald Executive Memorandum #928 May 4, 2004 \| \| Scrap steel prices are high because of a weak dollar and strong global demand for scrap steel. Mini-steel mills, the largest U.S. consumers of scrap, want the U.S. Department of Commerce to limit scrap steel exports in hope of reducing domestic prices. However, even if the export controls did work as intended, they would harm the U.S. economy by surrendering the market share of U.S. scrap steel producers to their foreign competitors. Interfering with the market would also damage U.S. credibility, reminding the world of past mistakes in U.S. steel policy. The Bush Administration's best option is to allow prices to rise and fall according to supply and demand. heritage.org