Washington, Sept 20: Hefty steel tariffs imposed by President George W. Bush 18 months ago have had a slightly negative impact on US economic growth, the US International Trade Commission said on Friday. In a pair of reports sent to the White House and key congressional committees, the ITC estimated the steel tariffs had cost the United States about $30.4 million annually in lost economic growth, a tiny fraction compared to the overall economy which totals about $10 trillion.

The reports set the stage for Bush to decide whether to end the tariffs early or let them remain in place for the full three years he originally planned. He could also decide to modify the tariffs as a result of the mid-term review.
Heading into next year's presidential election, Bush is under pressure to scrap the tariffs to help the manufacturing sector which has lost 2.5 million jobs on his watch. Bureau Report