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Alexander's Horse
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Panmunjon, hands up!
Jan 1970
time: 15:29
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The US is the most active, aggressive and successful litigant in the WTO and its predecessor the GATT. So its a bit rich to whine when a decision goes against you.
These tariffs weren't good for US industry anyway in my opinion. The US auto industry for example has been calling for their removal.
A tariff is just another word for tax. This tax was being paid by those American companies that use steel. That can't be good for US industry. Nor is it good for US consumers who pay for the tariffs in higher prices for built up steel products like cars and white goods and houses and the like. It also makes US exports of products with steel content more expensive and therefore less competitive in international markets. More bad news for US industry.
In summary it was a pretty bad way to "help" the US steel industry. It basically rewarded their inefficiency and gave US steel incentives not to make necessary improvements to efficiency to improve competitiveness against imports. You want to reward that kind of lazy corporate behaviour?
Last edited by Alexander's Horse on 15-07-2003 at 08:57
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14-07-2003 11:22
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