NEWS RELEASES

November 28, 2001 (5:10 p.m. EST) No. 157

CANADA WELCOMES PRESIDENTIAL STEEL DECISION

International Trade Minister Pierre Pettigrew today welcomed a decision by U.S. President Bush to refrain from imposing restrictions on Canadian steel wire rod exports to the U.S.

The decision ends several months of uncertainty for Canadian steel wire rod producers and means that Canadian exports in this sector, totalling more than $225 million annually, will continue to flow unimpeded to U.S. buyers.

"This positive decision comes after vigorous representations by both the Government of Canada and the industry," said Minister Pettigrew.

In recent weeks, Prime Minister Chrétien and Minister Pettigrew raised the issue with President Bush and U.S. Trade Representative Zoellick. Under NAFTA, Canadian exports to the U.S. can be exempted from certain U.S. trade actions if they are not injuring the domestic U.S. industry.

The Presidential action is in response to a finding by the U.S. International Trade Commission that previously excluded imports of steel wire rod from Canada were undermining the effectiveness of the safeguard action imposed on steel wire rod imports by President Clinton in February 2000.

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For further information, media representatives may contact:

Sébastien Théberge

Office of the Minister for International Trade

(613) 992-7332

Media Relations Office

Department of Foreign Affairs and International Trade

(613) 995-1874

http://www.dfait-maeci.gc.ca