By late 2001, their industry reeling, the steel makers wanted more from Washington: further protection from imports; pressure on other countries to reduce their steel-making capacity; and billions of taxpayer dollars to relieve the burden of their employees' retirement costs.
It would reduce the domestic price of imports, pressuring local producers to keep prices low.
She said price cuts had squeezed manufacturers' export margins, even though lower oil and metals prices were helping to ease import cost pressures.
With external demand, particularly in Europe, and oil prices having eased, "import price pressures are likely to remain subdued in the coming months," said Peter Newland, an economist at Barclays.
The bank now expects it will take three years for inflation to return to its 2% target.To some extent, the bank must look through imported deflationary pressure, which is tough to control, and focus on Britain.
Dependence on Russian gas imports, and pressure from Brussels to reduce carbon emissions by 2020 beyond the 20% level previously already agreed, have pushed the government to look for alternatives.The cabinet's decision comes only two weeks after the national audit office issued a fairly damning report on the slow pace of shale gas exploration.
With the US no longer seeking imports, the pressure is off international prices.
Trump can also use the threat of tariffs on Chinese imports to pressure China to scale back excess production and take measures to dramatically reduce the value of its currency, such as selling its Treasury bonds.
A continuing sharp fall in the pound would add imported inflationary pressures to the domestic component.And for the next few months the MPC's decisions will be scrutinised even more closely than usual.
