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U. S. Steel Chairman Thomas J. Usher Comments on Decision to Halt OECD Talks on Steel Subsidies


Commenting on the decision by the Organization for Economic Cooperation and Development (OECD) to halt discussion of the anti-subsidy agreement, United States Steel Corporation (NYSE: X) Chairman and CEO Thomas J. Usher said, "I would like to thank President Bush and Secretary Evans and their negotiating team for their efforts on behalf of the steel industry in pursuing this anti-subsidy agreement. We, of course, want these talks to be successfully completed as soon as possible. We realize, however, that major changes in thinking by some will be required and this will take time.

"Significant progress has been made in defining the key issues, and the process will continue in the near future following extensive bilateral discussions. We at U. S. Steel continue to support the Administration in this critical undertaking.

"The problem of government subsidies in steel, and the damage that results as excess capacity is built or maintained, must be reined in if true market forces are to prevail in world steel trade."

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SOURCE: United States Steel Corporation

CONTACT: John Armstrong, +1-412-433-6792, or Carlee Vargo,
+1-412-433-6777, both of United States Steel Corporation

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