December 19, 1984
The President today is announcing agreements with seven countries -- Japan, Korea, Brazil,
Mexico, Spain, Australia, and South Africa -- to establish limits on the importing of their steel to
the United States.
On September 18, 1984, the President announced his decision to deal with unfair trade in steel by
seeking negotiated agreements with major steel suppliers within a 90-day period. The 90 days
ended yesterday. Today the President is very pleased with the successful conclusion of these
negotiations, carried out by his United States Trade Representative. He considers these
agreements to be a step in the right direction.
We believe that overall steel import penetration of the U.S. market will decline significantly as a
result of these agreements and that the U.S. steel industry will be able to compete in the world
markets.
Note: Larry M. Speakes read the statement to reporters assembled in the Briefing Room at the
White House for his daily press briefing, which began at noon.