"Later today, the U.S. International Trade Commission (ITC) will issue its midterm report regarding the temporary steel safeguard measures that the President imposed in March 2002. The ITC is also expected to deliver to the President and the Congress a report regarding the current competitive conditions in steel-consuming industries with respect to the imposition of the safeguard measures (the Section 332 report).

"We will begin a thorough review and analysis of these reports today, and will use them as a part of our ongoing review of developments in the steel industry, and the economy more generally, since the imposition of the steel safeguard measures. We will also continue our dialogue with steel producers, consumers, Members of Congress, and other interested parties."