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Steel Industry / Plant Closings / Problems #495455

NBC Evening News for Tuesday, Sep 20, 1977
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(Studio) Youngstown Sheet and Tube Company is moving main office and some of steel prod. out of Youngstown, Ohio, at cost of 5000 jobs.
REPORTER: David Brinkley

(Youngstown, Ohio) Youngstown plant will fire 5000 by Christmas and isn't only company doing so. Some of biggest American steel companies plan to do same; is because companies don't make enough money. Steel execs. allege federal government is reason they have to spend so much money on antipollution equipment that they are underpriced by foreign steel imports and that government interferes each time price hike is planned; execs. say result will be more imported steel and fewer American jobs. [Youngstown president Jennings LAMBETH - cites amount of imported steel coming into country and number of jobs it takes.] Youngstown residents' concern over plant closing noted. [Steelworker Eddie MINOR - says town will be ghost town, because no money will circulate. Town depends on steel.] People say they'll do almost anything to keep plant in town, even to tolerating pollution government wants eliminated. But courts won't allow that and steel mills already closing.

(Studio) United States Steel says Japan is dumping certain steel products on American market and asks Treasury Department to invoke antidumping statute and impose special duties on steel products involved.
REPORTER: John Chancellor

Brinkley, David;
Chancellor, John;
Kur, Bob

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