For Immediate Release
December 17, 2001

Statement From Under Secretary for International Trade Grant Aldonas on Steel

Today we submitted an in-depth analysis of the current status of the U.S. steel industry and projected industry charges to representatives from around the world at the OECD high- level steel meetings in Paris.

We are proud of this report and think that it is a substantial contribution to encouraging other countries to examine and address the market distortions in their markets that have led to inefficient excess capacity. I am very encouraged by the substance of the reports presented by the other countries today and the degree by which each of the countries recognize that they must take steps to allow the market to rationalize capacity.

I am also encouraged by their recognition that inefficient excess steelmaking capacity is a problem shared by all and for which all countries must make a contribution to its solution. I look forward to hearing the statements by other countries and hope that those countries share this view. So far, this meeting has represented a step forward in encouraging participating countries to allow the markets to operate.

For a copy of the report visit www.ita.doc.gov/media.