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The steel industry again faced a threat from imported steel in
the late 1990s and early 2000s. This international dumping of steel
in the United States is the result of a worldwide oversupply. These
imports, along with other domestic factors, caused the bankruptcies
of over 42 U.S. steel companies since 1998, according to the United
Steelworkers of America. In 2002, the Bush administration imposed
tariffs on steel imported into the United States from other
countries in an attempt to improve the health of the industry.
However, these tariffs were lifted in 2003, in a move that many in
the steel industry considered to be premature, citing that U.S.
steel producers did not have enough time to effectively confront
the glut of foreign imports.
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