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.
