In an effort to prop up the ailing domestic steel industry, William M. Roth, U.S. Trade Representative, concludes negotiations on “voluntary” import quotas on Japanese and European produced steel. The foreign producers agree to the cutback on the condition the quotas do not last beyond 1971.
Postscript: These “temporary” quotas lasted at least through the turn of the millennium, and have resulted in the nation’s steel producers becoming a permanent ward of the Federal government.
[added 6/26/2025]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
Steve Chapman, “Nerves of Steel,” Orange County (California) Register, 19 March 2002, Local:9.
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