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(Studio) 3 days after Youngstown Sheet and Tube announced layoffs in youngstown, Ohio, steel plant, ARMCO Steel Corporation says it will also begin laying off workers at plants in Middletown and New Miami, Ohio. With unemployment in steel industry increase, congmen. from product states form caucus, in hopes of meeting with president Carter next week (Film shown.) [Representative John BUCHANAN - notes it's national problem; cites reasons. Says Europe and Japan are exporting unemployment to US.] Major goal of caucus will be finding solution to problem of imports.
REPORTER: Walter Cronkite
(Long Island City, New York) American mfrs. import more and more steel from Japan, Canada, West Germany, France and South Africa. Controversy cited. [Steel distributor Benjamin PERLEN - estimates steel use in United States is 80% foreign, 20% domestic. Says foreign steel quality is as good, sometimes better, than American steel.] Ind. observers' predictions with regard to fate of American steel industry noted.
REPORTER: Ray Brady
- Brady, Ray;
- Cronkite, Walter
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