December 02, 2003

Steel Tariffs Still Kicking

Maybe dumping the steel tariffs aren't "all but set in stone" like I thought yesterday. The AP reports President Bush is still weighing his options. He might decide not to get rid of all the tariffs he imposed last year. Keeping some wouldn't make the EU happy and would probably result in retaliation. I don't know what political calculations Bush is doing. If he doesn't drop the tariffs there will be a trade war just when the U.S. economy is coming out of its slumber. Domestic steel manufacturers would be hurt, but domestic steel users could face a steel shortage. We will know the President's decision later this week.

"Advisers Urge Bush to Drop Steel Tariffs"