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Tears, cheers greet end to Bush steel tariffs
Washington, Dec 05: The move by President George W Bush to rescind steel tariffs brought a torrent of reactions in the United States, both positive and negative, as a 20-month battle over steel came to a close.
Washington, Dec 05: The move by President George W Bush to rescind steel tariffs brought a torrent of reactions in the United States, both positive and negative, as a
20-month battle over steel came to a close.
The steel industry, which earned a reprieve from some low-cost imports since the March 2002 duties were imposed, expressed disappointment but stopped short of criticising the
President.
Meanwhile, union leaders lashed out at Bush for backing down in the face of international pressure, and leaders of steel-consuming industries praised the President for undoing the damage caused by the tariffs.
A coalition of steel-consuming industries that has battled for months to roll back the tariff plan praised Bush. In Paris, French junior minister for foreign trade voiced "satisfaction" with Bush's decision to lift special tariffs on steel imports as proof of the utility of the WTO.
"The US respect the arbitration of the World Trade Organisation. That's what we were expecting from them. That proves the utility of the organisation: it's able to have agreements respected by even the biggest world actors," said Francois Loos.
Bush had little choice but to scrap the tariffs after the WTO ruled they were illegal last month and major trading partners vowed massive retaliation.
Lawmakers from steel-producing states criticised Bush's decision to scrap steel import tariffs. To blunt the impact on US steelmakers, who employ 150,000 workers, the administration promised to intensify monitoring to avert surges of steel imports after the tariffs are dismantled.
Bureau Report
Meanwhile, union leaders lashed out at Bush for backing down in the face of international pressure, and leaders of steel-consuming industries praised the President for undoing the damage caused by the tariffs.
A coalition of steel-consuming industries that has battled for months to roll back the tariff plan praised Bush. In Paris, French junior minister for foreign trade voiced "satisfaction" with Bush's decision to lift special tariffs on steel imports as proof of the utility of the WTO.
"The US respect the arbitration of the World Trade Organisation. That's what we were expecting from them. That proves the utility of the organisation: it's able to have agreements respected by even the biggest world actors," said Francois Loos.
Bush had little choice but to scrap the tariffs after the WTO ruled they were illegal last month and major trading partners vowed massive retaliation.
Lawmakers from steel-producing states criticised Bush's decision to scrap steel import tariffs. To blunt the impact on US steelmakers, who employ 150,000 workers, the administration promised to intensify monitoring to avert surges of steel imports after the tariffs are dismantled.
Bureau Report