Here's a novel concept: removing artificial trade barriers...
WASHINGTON (AP) - Facing the threat of a trade war, President Bush on Thursday lifted 20-month-old tariffs on foreign steel, a move that will hurt steelmakers in states critical in next year's election.Within minutes of the announcement, the 15-nation European Union announced in Brussels that it was lifting its threat of sanctions on $2.2 billion of U.S. products that would have taken effect in mid-December based on a ruling from the World Trade Organization that the tariffs violated global trade rules. "These sanctions ... were there as a tool for compliance," EU Trade Commissioner Pascal Lamy said. "They've complied and the sanctions will disappear."
Permalink | Linking Blogs | Sphere: Related Content | Digg this! | FARK It!
Filed under:
Politics
Comments (1)
Yeah, they hurt the steelma... (Below threshold)1. Posted by Joe Grossberg | December 4, 2003 5:28 PM | Score: 0 (0 votes cast)
Yeah, they hurt the steelmakers ... but they benefit the steel consumers. You know, the entire electorate.
1. Posted by Joe Grossberg | December 4, 2003 5:28 PM |
Score: 0 (0 votes cast)
Posted on December 4, 2003 17:28