US may extend steel import monitoring and licensing program

US may extend steel import monitoring and licensing program

US Representative Peter Visclosky has recently announced that he and US Representative Phil English R-Pa have introduced a bill that would expand steel monitoring and licensing program. As previously reported by SteelOrbis, US steel imports have started increasing just six months after steel tariffs were lifted and the situation created concern among steel producers in the country. White House implemented a monitoring system for steel imports, which will be in effect till March 2005. However, domestic steel producers demanded the system to be permanent. The purpose of steel import monitoring is to detect level of steel imports into the country and inform the industry about the figures so that they have knowledge about market situation. The new program does not require any licensing and does not include any tariffs. The proposed bill aims to make Bush's steel import monitoring program permanent.