Dollars and Jens
Tuesday, November 11, 2003
The infamous steel tariff
The WTO has declared the Bush steel tariff a violation of international trade agreements; good for them. Now, as the Wall Street Journal says, the administration should correct its mistake.
The best solution is for the Administration to recognize the WTO decision for what it is: a golden opportunity. The U.S. economy is showing signs of recovery, but nothing is certain. By citing the verdict and dropping the tariffs now, Mr. Bush can further aid the economy, in particular one sector that is still struggling to get on board the recovery train: manufacturing. Along the way, he'll save other industries from big hits to their exports. And by complying with global trade rules, the U.S. will gain needed credibility in its attempts to get free-trade talks back on track.

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