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Administration April 1, 2003
Steel Makers Forge Ahead
January 16, 2002 (PLANSPONSOR.com) - US steel makers
can now present a united front in their continuing efforts to
promote industry consolidation, specifically in advancing a
request for the federal government to pay their retiree
health care costs, according to the Associated
Press.
Reported by Fred Schneyer
Apparently having worked out inter-industry differences
at a recent strategy meeting in Pittsburgh, Pennsylvania,
steel maker officials plan to ask the government to pay
health benefits to former workers out of an existing
government program, from import tariff revenue or taxes.
At the same time, industry officials said US Steel,
Wheeling-Pittsburgh Steel and other companies will continue
to discuss a possible megamerger – a move some believe to
be the key to keeping the domestic steel industry alive,
according to the AP.
In a related move also designed to shore up the industry, steel makers are also asking President Bush to institute a 40% steel tariff for four years to help restrict imports in order to boost domestic steel firms.
However, a group of US steel importers and steel-consuming industries warned that the tariffs being sought would put many employees out of work and increase consumer prices.