Calling on the President to take all necessary measures under existing law to respond to the significant increase of steel imports resulting from the financial crises in Asia, Russia, and other regions, and for other purposes.

Calls upon the President to: (1) pursue vigorous enforcement of U.S. trade laws relating to unfair trade practices with respect to the significant increase of steel imports into the United States, using all available remedies under those laws; (2) pursue consultations with Japanese, Korean, and European Union officials, and other nations to eliminate import barriers that affect steel mill products and to increase access to their markets; (3) closely monitor U.S. imports of steel and make the data gathered from such monitoring available to the public as soon as possible; and (4) report to the Congress by January 5, 1999, on the impact that the significant increase in steel imports is having on employment, prices, and investment in the U.S. steel industry.