U.S. Steel Applauds Announcement on Steel Import Monitoring
United States Steel Corporation (NYSE: X) welcomes today's news that the Steel Import Monitoring and Analysis (SIMA) system will be extended and soon expanded to cover a wider range of steel products through 2009.
U.S. Steel President and CEO John P. Surma said, "This news reflects the fact that President Bush, Commerce Secretary Gutierrez, and the Congressional Steel Caucus all recognize the important role this program has played in restoring confidence and stability to the U.S. steel market. We are especially pleased that Secretary Gutierrez will make extension of this program one of his first official acts."
Many members of the Congressional Steel Caucus helped the industry make the case for extending the life of this program. U.S. Steel especially appreciates the efforts of Sens. Santorum, Specter, Rockefeller and Durbin, and Reps. English, Visclosky, Hart, Doyle and Murphy.
"Markets work best when information is available, accurate and timely. The Steel Import Monitoring and Analysis system helps American steel producers, service centers and consumers plan and efficiently manage their businesses. This system informs steel buyers and sellers - both importers and exporters - of major steel market trends in a timely manner," said Surma.
The Steel Import Monitoring and Analysis system was originally implemented by the Bush Administration to facilitate administration of the Section 201 tariffs imposed - and later lifted - by President Bush. Other nations, including Canada, European Union and China, utilize similar data collection systems to monitor or license trade in their respective steel sectors.
SOURCE: United States Steel Corporation
CONTACT: John Armstrong, +1-412-433-6792, or Carlee Vargo,
Web site: http://www.ussteel.com/
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