Steel Trade Act

[AI summary unavailable — showing source text] Steel Trade Act - Declares the policy of the Congress that access to the United States market for foreign-produced carbon and specialty steel mill products and other steel products should be on an equitable basis to safeguard the national security, insure orderly trade in carbon and specialty steel mill products and other steel products, alleviate United States balance-of-payments problems, and provide an opportunity for a viable United States steel industry and prevent further disruption of United States steelworkers. Provides that beginning January 1, 1973: (1) the total quantity of carbon and specialty steel mill products which may be entered shall be limited to 14,709,000 tons and (2) the total quantity of other steel products which may be entered shall be limited to 411,000 tons. Provides that beginning with the year 1974, the total quantities of carbon and specialty steel mill products and other steel products which may be entered during that year and during each succeeding year shall be increased by 2 1/2 percent per year over the tonnages permitted to be entered in the preceding year. Provides that subject to the overall limitations: (1) the percentage of the total quantity…