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Time for a Grand Bargain in Steel?

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  • Gary Clyde Hufbauer

    (Peterson Institute for International Economics)

  • Ben Goodrich

    (Peterson Institute for International Economics)

Abstract

Everyone agrees that the US steel industry is distressed. The disagreement is over the role of imports: to what extent is foreign steel the culprit? Before turning to this critical issue, it is worth recounting the highlights of the steel industry's difficulties. In the past four years, 29 US steel companies have entered into bankruptcy proceedings (21 since the 2000 presidential election). Table 1 lists the companies that have filed for bankruptcy and their current operating status. Many are still operating, although some have closed and a few have emerged from bankruptcy. Bethlehem Steel and LTV are the two largest companies that filed for bankruptcy. Together, these two companies represent about half of the steel-making capacity and jobs embroiled in bankruptcy filings.

Suggested Citation

  • Gary Clyde Hufbauer & Ben Goodrich, 2002. "Time for a Grand Bargain in Steel?," Policy Briefs PB02-01, Peterson Institute for International Economics.
    • Handle: RePEc:iie:pbrief:pb02-01
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    File URL: https://www.piie.com/publications/policy-briefs/time-grand-bargain-steel
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    Cited by:

    1. Robert Read, 2005. "The Political Economy of Trade Protection: The Determinants and Welfare Impact of the 2002 US Emergency Steel Safeguard Measures," The World Economy, Wiley Blackwell, vol. 28(8), pages 1119-1137, August.
    2. Dan Ciuriak, 2005. "Anti‐dumping at 100 Years and Counting: A Canadian Perspective," The World Economy, Wiley Blackwell, vol. 28(5), pages 641-649, May.
    3. Boussard, Jean-Marc & Gerard, Francoise & Piketty, Marie Gabrielle & Ayouz, Mourad & Voituriez, Tancrede, 2006. "Endogenous risk and long run effects of liberalization in a global analysis framework," Economic Modelling, Elsevier, vol. 23(3), pages 457-475, May.
    4. Gary Clyde Hufbauer & Ben Goodrich, 2003. "Steel Policy: The Good, the Bad, and the Ugly," Policy Briefs PB03-01, Peterson Institute for International Economics.
    5. Gary Clyde Hufbauer & Ben Goodrich, 2003. "Next Move in Steel: Revocation or Retaliation?," Policy Briefs PB03-10, Peterson Institute for International Economics.
    6. Rivera, Sandra A. & Tsigas, Marinos E., 2005. "How does China’s growth affect India? An Economywide Analysis," Conference papers 331359, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    7. Jared Greenville & T.Gordon MacAulay, 2005. "Tariffs and steel: US safeguard actions," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(3), pages 321-338, September.
    8. Greenville, Jared W. & MacAulay, T. Gordon, 2005. "Tariffs and steel: US safeguard actions," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 49(3), pages 1-18.

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