§ 16. Mr. Campbell-Savoursasked the Minister for Trade whether he has assessed the effect on the balance of trade of unilateral action by the United States Government on the steel industry of the United Kingdom.
§ Mr. Peter ReesIt is very difficult to make a proper assessment, since the United States Department of Commerce has only recently made preliminary determinations of subsidy in the countervailing complaints against United Kingdom steel suppliers. Final determinations of subsidy and of injury to the United States steel industry may follow over the coming months, as may action on parallel complaints of dumping. I estimate that something under half by volume of United Kingdom steel exports to the United States may be affected by all these complaints.