To meet an International Trade Commission deadline, President Bush must make a decision this week on whether and how to apply steel tariffs. Some major U.S. steel companies and steel workers have been urging 40% tariffs across the board. The administration wants to help the American steel industry, but avoid negatively impacting other industries — and the economy — with sharply higher steel prices.
Democrats and Republicans are divided over the issue, depending on whether they come from steel making states or are strong free-trade advocates. Tariffs are also likely to raise protests from U.S. allies, especially in Europe.
Publication date: 03/04/2002