LIZ: WE HAVE SOME BREAKING NEWS
AND I DO WANT TO MARK THE DOW
JONES INDUSTRIALS AND THE S&P
AND WHERE THEY STAND RIGHT NOW.
WE DO HAVE THE DOW UP 216, S&P
UP 28.
HERE'S THE NEWS.
THE U.S. COMMERCE DEPARTMENT HAS
JUST ANNOUNCED IT IS IMPOSING
PRELIMINARY ANTI-DUMPING TARIFFS
ON CERTAIN STEEL COMING IN FROM
CHINA AND MEXICO.
SPECIFICALLY, IT IS, I
UNDERSTAND, THE KIND OF STEEL
THAT IS USED IN BIG STRUCTURAL
EFFORTS HERE.
A 141% DUTY ON THE STRUCTURAL
STEEL AND A 31% DUTY ON MEXICAN
STRUCTURAL STEEL.
SO CHINA GETTING HIT THE HARDEST
HERE.
AGAIN, A TARIFF OF 141% ON
INCOMING STEEL USED FOR BIG
STRUCTURES FROM CHINA.
THE COMMERCE DEPARTMENT SAYS NO
CANADIAN FABRICATED STRUCTURAL
STEEL HAS BEEN DUMPED IN THE
U.S. MARKET SO IT ESCAPES THIS,
BUT THE PRESIDENT HAS BEEN OPEN
TO SAYING QUITE CONSTANTLY THAT
THE U.S. STEEL INDUSTRY HAS
BENEFITED FROM THIS WHILE STEEL
STOCKS ARE MOVING HIGHER AT THE
MOMENT, WE DID KNOW OF COURSE
THAT U.S. STEEL HAD CLOSED A
PLANT IN AUGUST AND THEN I
BELIEVE JUST BACK IN JULY, THEY
HAD LAID OFF ABOUT 200 OTHER
WORKERS IN GARY, INDIANA.
WE ARE WATCHING WHAT APPEARS TO