It is plausible that the specialty steel industry was aaversely affected by the Voluntary Restraint Agreements and their subsequent changes...
It is plausible that the specialty steel industry was aaversely affected by the Voluntary Restraint Agreements and their subsequent changes which òistorted import levels of stainless steel and alloy tool steel. Mandatory quotas on specialty steel imports were sought by the specialty steel producers and steelworkers. A complaint was filed unòer provisions put into the Trade Act of 1974 32/ which require the Government to act against imports if it can be shown that they are a .substantial cause of ser ious inj ury. to a domest ic industry. Most of the .
,,- specialty steel comes from Japan, Sweden, Canada, France, Great -Britian, Austria, and West Germany. The U.S. International Trade Commission, on January 17,1976, proposed a limit of 146,000 net tons a year on impor ts of stainless and alloy tool steel. President Ford delayed imposing restr ictions on specialty steel imports until June 14, 1976, while the U.S. Government attempted to negotiate volunatry cutbacks with 'foreign governments. Only Japan agreed to a program of 32/ 19 USCA 2551 et seq. -80- voluntary restraint within the 90 days alloted for negotiation. The Common Market and Sweden rejected the porposed "orderly marketing" arrangements and President Ford imposed import quotas for a 3-year per iod.
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