The Steel Trigger Price Mechanism
The trigger price mechanism (TPM), implemented early in 1978, was devised to detect imports of steel at unfairly low prices and trigger the administrative relief provided by law. In 1977, the U.S. steel industry was facing tough import competition that compounded its problems of aging, inefficient plants, high wage rates, and low capacity utilization. U.S. steel imports had jumped to a record level of 19.3 million tons, 1 million tons higher than the previous record established in 1971.
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