Weirton, where free trade hurts
Article Abstract:
Weirton Steel is laying off 20% of its work force following the import of large amounts of cheap steel in 1998. The company has joined forces with other steel firms alleging dumping by Brazil, Japan and Russia, and the administration has agreed that Japan and Brazil have been guilty, though not Russia. Congress is to vote on a bill to impose quotas on steel imports, a move which runs counter to the World Trade Organization rules, and which goes against the idea of multilateral treaties. There is a risk that protectionist pressure could build up in the US.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
In America's fiery furnace
Article Abstract:
US steel companies have delayed consolidation and duplicate resources ina wasteful way, due to long-term protectionism. Steel companies are pressing for further protection from imports from former Soviet countries and Asia. Threats of trade sanctions would hit imports, and prices may be raised whether or not the companies involved are involved in dumping. Mini-mills represent a threat to large steel companies, as does globalization, and customers may also exert pressure.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Meltdown
Article Abstract:
Problems facing US steel companies and the impact of protection on the industry are examined in detail.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: New Tokyo airport under review. New Bangkok International faces further uncertainty. Vancouver's winning ways
- Abstracts: Wal-Mart trains sights on India's retail market. The organic front opens. Wal-Mart in Europe: prospects for the UK
- Abstracts: How to keep the fans turning. Lost in California's haze. Unplugged
- Abstracts: Overtaken by events. Merger muddle. Poisoned
- Abstracts: Working details. At the water's edge