WASHINGTON – U.S. Rep. Benjamin L. Cardin today co-sponsored legislation that would reinstate Section -201 steel tariffs on imported steel that were revoked by President Bush on Dec. 4.

In 2001, the International Trade Commission (ITC) recommended sanctions against foreign manufacturers who have flooded the U.S. market with illegal, below-cost imports. In March 2002, the President imposed a Section-201 penalty on imported steel to enable the U.S. steel industry to consolidate and restructure.

Keeping America’s Promise to Steel Act would reinstate the tariffs for the full three-year period – until March 2005 -- so the U.S. steel industry can complete its plans to restructure and consolidate. In July, the ITC reported that the U.S. steel industry was using this period to engage in unprecedented restructuring and consolidation. Specifically, U.S. steel producers have been able to invest more than $3 billion in restructuring. At the same time, three major U.S. steel producers have acquired the assets of six failing steel producers, protecting jobs and benefits for workers and retirees.

"The U.S. steel industry is a vital part of our economy. We promised U.S. steel producers that they would have relief from illegal imports for three years while they consolidate and restructure. This bill keeps that promise," said Rep. Cardin who represents many of the workers at the International Steel Group (ISG) plan in Sparrows Point, Md.

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