Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

U.S. Steel Tariffs Expected to be Lifted
Dec 2, 2003
 Printable format
 Email this Article
 Search

U.S. President George W. Bush is expected to announce this week that he will immediately lift most of the tariffs he placed on foreign steel in an effort to protect American industry, bowing to a ruling by the World Trade Organization (WTO) that his administration had violated global trading rules, say industry officials who have been in negotiations with the White House.

Mr. Bush may make the announcement after a Dec. 2 trip to Pittsburgh, PA, U.S., where the decision to accede to the trade organization ruling will be deeply unpopular among steelworkers and owners of the American steel manufacturers -- even if accompanied by an expected threat by President Bush to reimpose tariffs if there is a surge of low-cost foreign steel.

However, the White House has said President Bush may not make a decision until a deadline in the middle of December. But industry officials who have been talking to White House economic officials say his advisers have warned him that there is no way to avoid the billions of dollars in retaliatory tariffs that Europe and Japan have threatened to impose on American goods if the tariffs are not lifted.

The Europeans would use retaliatory tariffs to strike at industries in states crucial to the 2004 election.

One industry official who has been talking to the White House said he expected that President Bush would try to make the best of his defeat by arguing that the main objective of the tariffs has been achieved: the American steel industry has consolidated significantly in the past 18 months, exactly the reorganization that President Bush declared had to happen during the 3-year life of the tariffs.

Under the trade organization's rules, the tariffs on foreign steel decline every year so that the domestic steel industry would face increasing pressure to become more efficient. (Reuters)

Back to Daily News

 

Daily News

...........................................................

Oct 17, 2014: Whirlpool completes purchase of majority interest in Indesit

Oct 17, 2014: AHRI Annual Meeting registration open for just 1 more week

Oct 17, 2014: Walmart will moderate brick-and-mortar growth and increase capital spending on e-commerce capabilities

Oct 17, 2014: Smart devices shipments forecast to show strong growth

Oct 16, 2014: Helen of Troy sales and earnings exceed expectations

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014
April 2014: Appliance Magazine Market Insight: February 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows