Investigation of steel imports launched by Bush administration
The Bush administration launched an investigation of imports of butt-weld pipe fittings, flanges and other steel products on June 22, which will be carried out by the U.S. International Trade Commission. The ITC is a federal agency that specializes in examining imports that cause injury to domestic industries. This action was the result of years of effort by U.S. steel makers to combat the influx of foreign steel products into the United States.
Whatever the outcome of the ITC's investigation, this move by President Bush has ensured that the U.S. market for fittings and flanges will be in turmoil for months to come, as manufacturers, wholesalers and distributors try to prepare for a possible sharp reduction in foreign supplies.