November 14, 2003

Steal Industry


This cartoon is from March 2002 and is in our book, Black & White World.

FoxNews reported yesterday: EU, Asian Countries Threaten Steel-Tariff Retaliation

Emboldened by a World Trade Organization ruling, Japan, South Korea and the European Union on Tuesday demanded the United States immediately drop its duties on imported steel or face the possibility of billions of dollars in retaliation.

From the Washington Times: Bush weighs lifting imported-steel tariffs.

Mr. Bush imposed duties on foreign steel in March 2002 to give U.S. producers breathing space as the industry consolidated and to shore up political support in steel-making states such as Pennsylvania, West Virginia and Ohio.

President Bush's import steel tariffs are protectionism plain and simple. Capitalism Magazine has featured a number of good articles since the passage of the tariffs that explain why they are wrong:

Let the Steel Tariffs Die by Bruce Bartlett
Who Pays The Tariffs? by Paul C Nagy
Steel Tariffs: President Bush Put Politics Above Principle by Radley Balko

FoxNews also has a story on Washington's influence peddling: Industry Caucuses Drive Capitol Hill Decisions.

UPDATE: Martin Lindeskog has some good commentary and links about the tariffs.

Posted by Forkum at November 14, 2003 07:43 AM