A bill to reduce unemployment, stimulate fair and free competition in world steel trade, provide temporary relief from unfair trading practices for the domestic steel industry.
Temporary Steel Trading Act - Imposes a temporary import quota on iron or steel products. Sets forth the formula for determination of such quotas. Permits the President to allocate a share of permissible imports to any country. Permits the President to eliminate the import restriction on articles covered by this Act upon a finding that such importation does not threaten domestic employment or is in the national interest. Directs the President to impose such import restrictions where necessary to prevent regional market disruptions.
Directs the Secretary of the Treasury to promulgate regulations to carry out this Act. Sets forth conditions under which the import restrictions of this Act shall be terminated.
Establishes a Commission on Steel Products to study: (1) the need for import restrictions beyond the period for which they are imposed by this Act; and (2) alternative methods for improving the condition of the steel industry.
Referred to House Committee on Ways and Means.
Referred to House Committee on Ways and Means.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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