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. Last Updated: 07/27/2016

Clinton, U.S. Steel Discuss Dumping

WASHINGTON -- Steel executives complained to U.S. President Bill Clinton on Thursday about a surge of imported steel from Russia, Japan and Brazil and other countries hit by the global financial crisis.

In a White House meeting, they demanded action to stem "dumping" that they said was triggering sharp drops in steel orders representing hundreds of millions of dollars in business. Layoffs are looming in some companies.

Vice President Al Gore, Secretary of State Madeleine Albright, Treasury Secretary Robert Rubin, U.S. Trade Representative Charlene Barshefsky and Labor Secretary Alexis Herman were all present at the high-profile meeting that lasted more than an hour.

Foreign producers like Russia, Japan, Brazil and South Korea, all reeling from the global financial downturn, have been flooding the vibrant U.S. economy with steel priced too low for U.S. manufacturers to match.

White House officials said that Clinton took the complaints under advisement.