Steel Trade Act

[AI summary unavailable — showing source text] Steel Trade Act - Limits the total quantity of imported carbon and specialty steel mill products to fourteen million seven hundred and nine thousand tons during the year beginning January 1, 1971. Limits the total quantity of other steel products which may be imported during such year to four hundred and eleven thousand tons. Provides that beginning with the year 1972 and during each succeeding year the total quantities of the above products which may be imported during such year to four hundred and eleven thousand tons. Provides that beginning with the year 1972 and and during each succeeding year the total quantities of the above products which may be imported shall be increased by 1 1/2 percent per year over the tonnages permitted to be imported in the preceeding year. Declares that: (1) the percentage of the total quantity of the imports of the above products from a particular nation shall not exceed the percentage of total imports represented by imports from that nation during the year 1968; (2) the percentage of the total quantity of imports of carbon and specialty steel mill products and other steel products which may be entered in any year represented by imports in a partic…