The Bush administration announced yesterday that it would seek a ruling from the International Trade Commission in order to establish quotas limiting the amount of foreign steel imports. Deviating from an overall free-trade stance, the administration claims that a flood of foreign steel imports has been threatening the U.S. steel industry and its workers. Recently, the U.S. steel industry has been suffering from bankruptcies, job losses, and low steel prices.
See "Bush to Seek Protection for U.S. Steel Firms", Paul Blustein, The Washington Post, June 5, 2001