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Topic: Steel tariff


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In the News (Mon 7 Dec 09)

  
  Steel tariff decision dogs Bush - The Boston Globe
PITTSBURGH -- Facing a politically tough decision on steel tariffs, President Bush came to the heart of steel country yesterday and encountered last-minute lobbying from high-profile backers of the sanctions that have helped prop up the US industry for 20 months.
White House advisers are urging Bush to abandon tariffs imposed last year on imported steel, which were meant to give the troubled US industry three years to consolidate and regain a profitable footing.
Specter urged Bush to keep the tariffs, as did AFL-CIO President John Sweeney, who in a letter to the president yesterday said the tariffs had contributed to the recovery and stabilization of the steel industry.
www.boston.com /news/politics/president/bush/articles/2003/12/03/steel_tariff_decision_dogs_bush   (632 words)

  
  United States steel tariff 2002 - Wikipedia, the free encyclopedia
The steel tariff is a political issue in the United States regarding a tariff that President George W. Bush placed on imported steel on March 5, 2002 (took effect March 20).
To decide whether or not the steel tariffs were fair, a case was filed at the Dispute Settlement Body of the World Trade Organization.
The early withdrawal of the tariffs also drew political criticism from steel producers, as well as supporters of protectionism, but was cheered by proponents of free trade and steel importers.
en.wikipedia.org /wiki/Steel_tariff   (624 words)

  
 Tariff - Wikipedia, the free encyclopedia
Tax, tariff and trade rules in modern times are usually set together because of their common impact on industrial policy, investment policy and agricultural policy.
The most notable is that they increase the price of the good subject to the tariff, disadvantaging consumers of that good or manufacturers who use that good to produce something else: for example a tariff on food can increase poverty, while a tariff on steel can make automobile manufacture less competitive.
Historians and economists have always been perplexed, because every analysis of the real economic impact of tariffs has shown their effect to be rather small on the economy as a whole, of minor importance to the economies of different regions, and of substantial importance to only a handful of industries (especially wool and automobiles).
en.wikipedia.org /wiki/Tariff   (3685 words)

  
 Byliner: Commerce's Evans Says Steel Tariff Strategy Was Successful   (Site not responding. Last check: 2007-10-20)
The temporary steel safeguard measures the president imposed over a year and a half ago were intended to provide the domestic industry with the breathing space needed to restructure and consolidate, thereby becoming stronger and more competitive.
Steel prices have stabilized, imports are at their lowest level in a decade, and U.S. steel exports are at historic levels.
The period since the temporary steel safeguard measures were put in place has been marked by an historic adjustment in the steel industry and an improving economy in America and around the world.
japan.usembassy.gov /e/p/tp-20031208-02.html   (862 words)

  
 CNN.com - Bush OKs lower steel tariffs than sought - Mar. 5, 2002
The tariffs, which are 10 percent lower than what the industry demanded, exclude members of the North American Free Trade Agreement, including Canada and Mexico, and developing nations, which export a minuscule amount of steel, Robert Zoellick, the U.S. trade representative, told reporters at the White House Tuesday.
About 31 steel companies have filed for bankruptcy since the Asian financial crisis of 1998 that prompted a flood of cheap steel into the United States, sending steel prices tumbling to 20-year lows, said Gerald Dickey, a spokesman for the United Steelworkers Union.
But the paper said the officials were worried that exempting steel slabs from tariffs would undermine the effectiveness of other tariffs because the slabs could be turned into the products facing the duties.
edition.cnn.com /2002/BUSINESS/03/05/steel   (666 words)

  
 Workers rally for steel tariff
Administration officials have been canvassing both supporters and opponents of steel tariffs to determine what level would do the most good for steel producers while doing the least damage to companies that depend on inexpensive steel, like the auto, heavy equipment and home appliance industries.
Steel importers and manufacturers that use the metal are waging a fierce lobbying battle of their own, telling the president that any tariffs on steel imports could mean higher prices for consumers on goods like appliances and could lead to massive layoffs at companies that use steel.
The ports and dock workers fear restrictions would force a dramatic drop in the amount of steel entering the United States, causing ports to lose business and wharf workers to be laid off.
www.freep.com /news/nw/steel1_20020301.htm   (544 words)

  
 Boston.com / Business / Advisers to Bush seek steel-tariff rollback
And when the tariffs were first imposed in 2002, Bush took the advice of his political advisers, such as Karl Rove, over that of his economic team, analysts say.
When the tariffs were first imposed, Bush followed the advice of political strategists rather than economic advisers such as Paul O'Neill, then Treasury secretary, who said the duties risked undermining his free-trade agenda and hurting employment.
Since the tariffs were imposed, the United States has collected $400 million in duties on covered steel imports, according to US Customs data.
www.boston.com /business/globe/articles/2003/08/26/advisers_to_bush_seek_steel_tariff_rollback   (747 words)

  
 Text: Congressional Steel Caucus Chairman Hails Steel Tariff   (Site not responding. Last check: 2007-10-20)
If we have a domestic steel industry in coming decades, I believe it will be because of this courageous action and an administration that was willing to listen to steelworkers, listen to steel producers, and also listen to all other interested parties in order to craft a creative policy.
Steel constitutes only a small share of the total cost of most products that contain steel, so the cost to the consumer and the costs on a single consumer item would be minimal.
For a typical family car, the increase caused by the imposition of a 40 percent tariff would be about $60, a 30 percent tariff in the tariff structure proposed by the President would be substantially less.
japan.usembassy.gov /e/p/tp-ec0468.html   (665 words)

  
 deseretnews.com | Steel tariff accord praised   (Site not responding. Last check: 2007-10-20)
After years of decline, the U.S. steel industry is feeling some hope after President Bush's decision on Tuesday to impose tariffs of 8 percent to 30 percent on steel imports over the next three years.
Tariffs will drop to 24 percent the second year and 18 percent by the third year.
Quotas also will be imposed, exempting tariffs on the first 5.4 million tons of steel slab imported, nearly the total amount of the 5.7 million tons of slab imported last year.
deseretnews.com /dn/view/0,1249,375014221,00.html   (916 words)

  
 Rep. Brown Says 3-Year, 30 Percent Steel Tariff Not Enough
President Bush's decision to levy tariffs of up to 30 percent for three years on steel imports is "a step forward," but the President should have followed recommendations from the steel industry to impose a 40 percent tariff for four years, according to Representative Sherrod Brown (Democrat of Ohio).
Steel companies, steelworkers, elected officials representing steel States, asked the President to levy 40 percent tariffs for 4 years, something to level the playing field for imported steel in the United States.
The third problem with the President's decision on steel and where he fell short and the reason for my disappointment is that the President opened up several loopholes in his tariff proposals, in his tariff enactments.
www.usembassy.it /file2002_03/alia/a2030819.htm   (820 words)

  
 Weirton Steel CEO Proposes Extension Of Steel Tariff Percentage
Weirton Steel Corp.'s president and chief executive officer has proposed the federal government consider extending the 30 percent tariff on steel imports for longer than one year.
Most of those imports received a 30 percent tariff for the first year followed by a drop to 24 percent in year two and down to 18 percent in the final year.
Weirton Steel is the seventh largest U.S. integrated steel company and the nation’s second largest producer of tin mill products.
www.weirton.com:8065 /company/invest/press/press090902.html   (375 words)

  
 TOM WALSH: Steel tariff backlash hard to stomach
The Bush administration took a small step toward mollifying irate steel users a month ago, by ordering U.S. steelmakers to report by Sept. 5 on how tariff relief is helping build a stronger domestic steel industry.
At home, the steel industry was strongly behind the tariffs.
The tariffs have clearly had their intended short-term effect.
www.freep.com /money/business/walsh15_20020815.htm   (536 words)

  
 Newswise
They deny dumping steel in the U.S. and are likely to reciprocate if the WTO does indeed rule the tariffs a violation,” says Dodge, who authored a paper titled “Cold War Redux: Tracing the Developments of the E.U.-Russian Relationship,” which was published in European Studies Conferences – Selected papers: 1993-99, a professional journal.
The country requested higher standards of chicken be imported from the U.S., but she suspects that the restrictions may be either to retaliate against the U.S. steel tariffs, or to take advantage of the trade barriers.
Hinshaw is author of the book Steel and Steelworkers – Race and Class Struggles in Twentieth-Century Pittsburgh, which provides an account of the forces that shaped Pittsburgh, big business, and labor from the city’s rapid industrialization in the mid-19th century, through its deindustrialization in the end of the 20th century.
www.newswise.com /articles/view/502207   (889 words)

  
 CNN.com - Europe angry at U.S. steel tariff - March 5, 2002
EU steel imports of 25.4 million tons from around the globe exceeded exports by only 2.25 million tons.
The reaction from Asia was also strong, with Korean steel industry sources saying the tariff would affect 80 percent of all U.S. steel imports.
Japan, which exported 2.2 million metric tons of steel to America last year and is facing a slump in demand for steel, gave its support for moves to take the U.S. to the WTO.
archives.cnn.com /2002/WORLD/europe/03/05/steel   (429 words)

  
 Steel tariff pits re-election against EU trade - PittsburghLIVE.com
Bush imposed the steel tariffs in March 2002 as record low prices contributed to the bankruptcy of more than 30 U.S. steel companies since 1997.
A decision to end the steel tariffs may cost the industry as many as 50,000 jobs at steel companies now in bankruptcy, said Wilbur Ross, chairman of International Steel Group.
A survey for the steel industry by Republican pollster Bill McInturff found that 74 percent of 1,000 people interviewed in Ohio, Pennsylvania, Michigan and West Virginia supported Bush's decision to impose the three-year tariffs, and 69 percent said he should continue them until they expire in 2005.
www.pittsburghlive.com /x/tribune-review/business/s_166780.html   (905 words)

  
 CNN.com - Bush administration lifts steel tariffs - Dec. 4, 2003
The Bush administration announced Thursday that it is scrapping the tariffs imposed on foreign-made steel more than 20 months ago, and the European Union immediately said it is lifting its threat of trade sanctions, averting the specter of a trade war.
The tariffs were scheduled to remain in effect for three years, until 2005.
Domestic steel supporters said the president had an obligation to fulfill promises he made during the 2000 campaign, the AP reports.
www.cnn.com /2003/ALLPOLITICS/12/04/elec04.prez.bush.steel   (777 words)

  
 USATODAY.com - Steel tariff ruling tests Bush   (Site not responding. Last check: 2007-10-20)
Bush initiated the tariffs to aid steel producers in Pennsylvania, West Virginia, Ohio and Michigan, swing states in the 2004 election.
Steel producers and unions are demanding that Bush resist the WTO.
"The steel industry is a test case for problems facing all sectors of U.S. manufacturing," said Daniel DiMicco, CEO of Charlotte-based Nucor (NUE), the USA's largest steel producer.
www.usatoday.com /money/economy/trade/2003-11-10-steel_x.htm   (440 words)

  
 Steel tariff decision may spark trade war - 11/11/03   (Site not responding. Last check: 2007-10-20)
The tariff on imported steel has hurt the auto industry as steel prices have risen, but has helped the floundering steel industry.
If the tariffs on imported steel are not lifted before 2005, retaliatory duties could ultimately backfire against the auto industry, she said.
Steel makers said the U.S. public was becoming increasingly wary about job losses as overseas competition causes bankruptcies and downsizing among U.S. companies.
www.detnews.com /2003/autosinsider/0311/11/a01-322245.htm   (1193 words)

  
 Asia Times: Cold, hard reaction to US steel tariff move
However, domestic opponents charge that the tariffs will end up having the opposite effect on the US economy, with companies that are big users of steel like automobile and appliance manufacturers essentially taxed for their raw materials, which will drive up costs, reported the New York Times.
Under the plan, steel imported from Canada and Mexico would be exempt from the duties under the North American Free Trade Agreement (NAFTA), as would imports from developing countries such as Argentina, Thailand, and Turkey whose portion in the US steel industry is meager.
Bush is proposing the tariff plan at a time when he also hopes to start negotiating a trade deal with South American countries much along the lines of NAFTA, reported the New York Times.
www.atimes.com /global-econ/DC07Dj01.html   (859 words)

  
 STEEL TARIFF REPEAL GOOD NEWS FOR VALLEY CITRUS INDUSTRY   (Site not responding. Last check: 2007-10-20)
Local industry leaders feared the steep tariffs would have started a trade war with Europe and devastated the south Texas citrus industry.
Shortly after the president announced that the tariffs would expire at midnight, Dec. 4, the European Union announced it too was withdrawing its $2.2 billion list of targeted products, including fruit.
Ending the tariff appears to have avoided an all-out trade war not just with Europe, but with Japan, Brazil and other countries that would have been part of the retaliatory sanctions against U.S. products.
agnews.tamu.edu /dailynews/stories/HORT/Dec2203a.htm   (543 words)

  
 White House Says Steel Tariff Decision Consistent With WTO Rules
The tariff rates announced by the President are in most cases similar to or higher than the tariff rates recommended by a majority of Commissioners at the ITC.
The ITC Commissioners were evenly divided on the question of whether imports of tool steel, stainless flanges and fittings, stainless steel wire, and tin mill products have been a substantial cause of serious injury, or threat thereof, to the U.S. steel industry.
The President's steel initiative announced on June 5, 2001, has three elements: (1) initiate the Section 201 investigation; (2) conduct discussions with other steel producing countries to encourage the market-based reduction of excess inefficient steel-making capacity worldwide; and (3) initiate negotiations to eliminate subsidies and other government market-distorting practices in the steel sector.
www.usembassy.it /file2002_03/alia/a2030513.htm   (2224 words)

  
 BBC NEWS | Business | Bush ditches steel import duties
The fact that the US steel industry has started to restructure is good news for the future.
The tariffs were originally imposed to satisfy an election pledge Mr Bush made to steel bosses and workers.
Mr Bush has had to balance these complaints with those of steel users such as car makers, which have complained that tariffs have made their life more difficult by driving up prices.
news.bbc.co.uk /1/hi/business/3291537.stm   (878 words)

  
 BBC NEWS | Business | WTO launches US steel tariff probe   (Site not responding. Last check: 2007-10-20)
The World Trade Organisation has agreed to launch a probe into whether steel import tariffs imposed by the US earlier this year are legal.
The EU - which says its steel industry stands to lose about $2bn a year - has drawn up a list of US exports which it is threatening to hit with retaliatory tariffs if Washington does not back down.
The EU's 'tit-for-tat' tariffs could be in place as early as 18 June.
news.bbc.co.uk /1/hi/business/2022849.stm   (406 words)

  
 Steel Products Proclamation
The steel products listed in clauses (i) through (ix) of subdivision (b) of U.S. Note 11 to subchapter III of chapter 99 of the HTS ("Note 11") in the Annex to this proclamation were excluded from the determinations of the ITC described in paragraph 2, and are excluded from these safeguard measures.
(a) a tariff rate quota on imports of slabs described in paragraph 7, imposed for a period of 3 years plus 1 day, with annual increases in the within-quota quantities and annual reductions in the rates of duty applicable to goods entered in excess of those quantities in the second and third years; and
The in-quota quantity in each year under the tariff rate quota described in paragraph 9 shall be allocated among all countries except those countries the products of which are excluded from such tariff rate quota pursuant to paragraphs 11 and 12.
www.whitehouse.gov /news/releases/2002/03/20020305-7.html   (1383 words)

  
 BW Online | March 8, 2002 | Behind the Steel-Tariff Curtain
Steel producers, especially the ailing integrated mills of the Mid-Atlantic and Midwest, welcomed it, even though it fell short of the 40% tariffs they were seeking.
He worried because so many U.S. manufacturers use steel in their products and American producers were already suffering the effects of the strong dollar, which makes U.S. exports expensive and imports cheap.
When contacted by CEOs opposed to the steel tariffs, O'Neill often referred them to Evans, who would explain that the tariffs were needed to bring into line Europe, South Korea, and Japan -- the biggest offenders in the excess capacity buildup.
aol.businessweek.com /bwdaily/dnflash/mar2002/nf2002038_1478.htm   (1464 words)

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