ExecutiveOrdersEO
Proc 7741ProclamationG.W. Bush · R

Proclamation 7741

To Provide for the Termination of Action Taken With Regard to Imports of Certain Steel Products

President George W. Bush terminated safeguard tariffs on certain steel products that had been imposed in March 2002 under Proclamation 7529, citing changed economic circumstances and an ITC report. The import licensing system established to monitor steel imports remains in effect until March 21, 2005, or until a replacement program is established.

Federal Register Open PDF 68 FR 68483

Impact dates

  1. Import licensing system terminates if no replacement program established

  2. HTS modifications effective for goods entered or withdrawn

Key directives

  • Terminate safeguard measures on certain steel products under section 204(b)(1)(A)(ii) of Trade Act
  • Modify HTS as provided in Annex
  • Authorize USTR to terminate licensing system upon Commerce establishing replacement program
  • Supersede inconsistent prior proclamations and Executive Orders

Who is ordered

Timeline

Immediate

  • Termination of safeguard tariffs effective December 5, 2003 at 12:01 a.m. EST
  • HTS modifications take effect for goods entered or withdrawn from warehouse

Near term (90d)

  • USTR to terminate licensing system upon determination that Commerce has established replacement program

Long term

  • Import licensing system expires March 21, 2005 if no replacement program established earlier

Risks & tensions

  • Domestic steel industry may face renewed import competition after tariff removal
  • WTO dispute with EU and other trading partners over 2002 tariffs may have influenced termination timing
  • Licensing system continuation suggests ongoing monitoring concerns despite tariff end
Proclamation 7741: To Provide for the Termination of Action Taken With Regard to Imports of Certain Steel Products · Executive Orders