Foreign Trade: Alloyed Protectionism

The ailing copper and steel industries have long complained that their problems are mainly the result of overseas competition. Last week both industries received some support. In separate decisions, the International Trade Commission, an independent federal agency, ruled that both copper and steel have been seriously injured by low-cost foreign shipments.

Steel manufacturers want to limit imports to no more than 15% of the American market, about 60% of the current level. Copper companies are urging the Government to restrict imports for five years to a level equal to about two-thirds of last year's shipments.

The ITC decisions gave an...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!