Big Steel refers to the large U.S. steel producers, most notably exemplified by the USX Corporation (formerly known as U.S. Steel Corporation). These producers are facing intense international competition, mainly from regions such as the Far East.
The Infant Industry Argument is an economic rationale for implementing trade protection measures to allow emerging domestic industries to establish and grow without the pressures of international competition.
The smokestack industry refers to heavy industry sectors, such as the steel and automotive industries, characterized by their extensive industrial facilities often featuring large smokestacks. These sectors are facing significant international competition.
