In exchange, Washington promised not to challenge their export subsidies or their practice of dumping steel on the U.S. market at allegedly unfair prices.
Q. Is it likely that the administration can prove that foreign companies are dumping steel - selling it at below domestic market prices?
The NYT also reports that union workers will dump Chinese steel into the harbor during a "Seattle Steel Party," but it doesn't say why.
Other countries like our trade policy because it allows them to use our market to dump steel to stabilize their economies.
He called for robust measures against the mainly Japanese producers who dump steel into the EEC.
Still, faced with recession and worldwide overcapacity the nation's steelmakers complain that foreign competitors are dumping steel at cut-throat prices.
Earlier this year, the Commerce Department concluded that 20 countries were dumping cold-rolled steel at prices below their real costs.
Today's ruling affected imports from 5 of the 20 countries that were originally accused of dumping steel: Japan, Thailand, Sweden, India and Australia.
We do not subsidise steel, we do not dump steel.
Feeling the rising political pressure, the Clinton Administration took action against Japan and Brazil for dumping steel, and negotiated an agreement to cut Russian exports.