Word: steels
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...guns fell silent last week around the Sikhs' Golden Temple complex in Amritsar, Punjab, leaving a tentative, uneasy calm in their wake. Steel-helmeted troops were positioned on many street corners, ready to quell any new outbreak of violence. The revered Golden Temple remained intact, but surrounding buildings lay in ruins or were seriously damaged. The destruction was a testament to the bloody battle that raged there for 36 hours earlier this month, after Prime Minister Indira Gandhi ordered the army to attack more than 1,000 heavily armed Sikh extremists barricaded inside the temple grounds...
Overall, the U.S. is undergoing shifts in employment similar to those that have taken place regularly since the industrial revolution. When millions of jobs were lost on farms, new ones in industries such as steel and textiles grew up. The expansion of services and the shrinkage of some older occupations now are signs of the same natural growth and aging process. As long as American business can maintain its flexibility and innovative spirit, the number of Americans at work should continue to grow...
...ailing copper and steel industries have long complained that their problems are mainly the result of overseas competition. Last week both industries received some support. In separate decisions, the International Trade Commission, an independent federal agency, ruled that both copper and steel have been seriously injured by low-cost foreign shipments...
...Steel manufacturers want to limit imports to no more than 15% of the American market, about 60% of the current level. Copper companies are urging the Government to restrict imports for five years to a level equal to about two-thirds of last year's shipments...
...decisions gave an unfortunate boost to protectionism and put President Reagan in an election-year bind. Sweeping restrictions would be against his own free-market principles, but a vote against steel and copper quotas could hurt at the polls. New import quotas could also cause problems abroad. Chile and Canada, the two largest U.S. suppliers of copper, lobbied strongly against cutbacks. Steel producers like Mexico and Brazil have already announced voluntary restraints on their exports to the U.S., and further reductions would aggravate their debt woes...