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Head Over Steel.(ISSUES & INSIGHTS)(EDITORIALS)(Editorial)
Trade: The president this week reportedly will lift most of the tariffs he levied on imported steel. It's a good move -- but one he should not have had to make.
President Bush should have never placed tariffs on imported steel. Trade restrictions always have harmful economic effects. The protected industry may benefit, but the damage trickles to other industries, especially those that use steel.
Jack Kemp wrote on this page just last week that the tariffs cost steel users about $600 million in lost profits and U.S. workers roughly 26,000 jobs.
And for what? The tariffs, subsequently ruled illegal by the World Trade Organization, saved maybe 5,000 jobs in the highly unionized steel industry.
The damage of tariffs is never restricted to one country. It spreads across the world when the retaliatory tariffs begin to fly.
The European Union, in this instance, is scheduled to impose $2.2 billion in sanctions on goods exported from the U.S. as soon as Dec. 15 in response to the Bush steel tariffs.
Retaliation from Japan would probably not be far behind.
- Wheeling-Pittsburgh Steel President James Bradley Is Pleased With President...
- Press release article from: PR Newswire March 5, 2002 700+ words
...pleased with President Bush's decision to enact tariffs which begin at 30 percent...want to thank President Bush for tackling the steel...his decision to enact tariffs," Bradley said...opposition, President Bush did what was right...
- Bush tariff hike risks steel war.
- News wire article from: Australasian Business Intelligence March 6, 2002 700+ words
...US decision on steel tariffs could harm the Australian...will place a 30 per cent tariff on imported steel. The...President, George W Bush, denied charges of hypocrisy and said that the tariffs would last for three...Administration SUBJECT CODE: TARIFF ON STEEL - UNITED STATES...
- Bush's Tariff Plan Pleases Officials at Warren, Ohio-Based Steel Producer.
- Newspaper article from: Knight Ridder/Tribune Business News March 6, 2002 700+ words
...officials said the Bush plan would levy a 30 percent tariff on flat rolled...WCI makes. Tariffs on other steel...for 40 percent tariffs, but spokesman...week indicating Bush would limit the tariffs to 20 percent...a 20 percent tariff, he said...
- Steel Firms, Critics Debate Effects of Bush Tariffs after One Year.
- Newspaper article from: Knight Ridder/Tribune Business News March 6, 2003 700+ words
...improvement can be attributed to the tariffs Bush slapped on foreign steel depends...you ask. Steelmakers say the tariffs have given them the breathing...swallowing that argument. They blame Bush's tariffs for the price increases, which...
- U.S. Steelworkers Hope Bush Adopts Tariff to Save Industry Jobs.
- Newspaper article from: Knight Ridder/Tribune Business News March 5, 2002 700+ words
...hoping President Bush will slap a huge tariff on foreign steel...recommendations sent to Bush on Monday...the-board tariffs that the steel...expected to approve tariffs ranging from...demanded that Bush impose the full 40 percent tariff on foreign steel...
- LAWMAKERS, STEEL EXECUTIVES SAY BUSH TARIFFS ARE WORKING.
- Newspaper article from: States News Service September 26, 2003 700+ words
...on whether to recommend the tariffs stay in place until their expiration...In March 2002, President Bush imposed the tariffs, ranging from 8 percent to...realities are likely to convince Bush to keep the tariffs. Rust Belt swing states...
- Steel mill renewal; Bush tariffs don't achieve desired goals, help...
- Newspaper article from: The Washington Times September 11, 2002 700+ words
...percent that President Bush imposed in March in some...was listless until the tariffs gave potential backers...death of steel until the tariff relief," Mr. Duncan...steel industry. But tariffs are keeping mills open...acquisition targets before Mr. Bush's decision. "The...
- EU turns screw after Bush tariffs are branded illegal.
- Newspaper article from: The Evening Standard (London, England) November 11, 2003 700+ words
...President George Bush's tariffs on steel imports...whether to rescind the tariffs or accept the sanctions...s ruling has left Bush with a dilemma...The signs are that Bush will decide that...against the steel tariffs, with even Republicans...
