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Indrani Dutta

KOLKATA, March 8

THE US President, Mr George Bush, will impose an import licensing system to allow his Government obtain more timely information about changes in steel trade trends for products covered by the slapping of duty on steel imports.

According to the report submitted to the US Congress on the Presidential action, "The President will monitor the extent to which other nations were eliminating global excess steel capacity as also the state of the US steel industry to ensure that the industry was taking the steps to restructure and increase its competitiveness.''

The relief does not end the Section 201 process, the document said, adding that Mr Bush retains the discretion to impose safeguard measures on products from excluded countries, should imports of such products surge during the relief period. Monitoring will also help guard against transhipment.

While pointing out that the President retains the right to modify or terminate the safeguard measures, the document said that the measures were allowed by WTO rules and many of US major trade partners — the EU, Japan, Korea, Brazil and India — have imposed safeguard measures covering a wide range of products.

The items which are included are flat products, tin mill products, hot-rolled bar and cold-finished bar, rebar, certain tubular products, carbon and alloy fittings and flanges, stainless steel bar, rod and wire and slab.

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