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EMD-81-29 1 (1981-01-08)

handle is hein.gao/gaobabbkm0001 and id is 1 raw text is: 



BY THE COMPTROLLE[P GENERAL


Report To The Congress

OF THE UNITED STATES


New Strategy Required For Aiding

Distressed Steel Industry


Much of the U.S. steel industry today cannot
compete with foreign producers and its pro-
duction capacity has been shrinking relative
to U.S. demand. As a result, the United States
now imports a large share of its domestic
needs. Because worldwide steel shortages are a
distinct possibility by the mid- to late 1980s,
this dependence could cause critical problems.

Past attempts by the Federal Government to
aid the steel industry have not succeeded.
However, GAO believes that the industry is
potentially competitive with foreign pro-
ducers and that a Government-led industry
revitalization program is warranted.

Government leadership, though, must be met
by a counter commitment from both industry
and labor, all based on a generally agreed upon
industry performance objective.










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     EMD-81-29
JANUARY 8, 1981


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