| President Bush has been
criticized at home and abroad for the tariffs
he imposed just over eighteen months ago. The World Trade Organization
ruled that they broke international rules, and steel users in the
United States said they did more harm than
good to the American economy by bumping
up the price of steel. Even though the tariffs are being
removed earlier than planned, Mr Bush is giving no sense of backing
down.
The Administration says the tariffs were meant to be a temporary
measure designed to give the American steel industry time to reorganize
in the face of unfair competition
from abroad. It's not clear that the decision will do Mr Bush
much political damage. It may harm him in some steel-making States
like Pennsylvania, but other areas -- notably Florida, which was
facing retaliatory tariffs from
the European Union -- may breathe a quiet
sigh of relief. In truth, the economy is growing quickly
and the dollar is weak -- both reasons for the American steel
industry to have growing order books
now, so diminishing any outcry
against the removal of what was a contentious
policy.
|
|
|
|
tariffs: a charge on goods or products
entering a country
more harm than good: is damaging rather than helpful
bumping up: pushing up
backing down: admitting that you
are wrong or that you have been defeated
in the face of: here, because of
retaliatory: a retaliatory action is a harmful action
against someone who has done something to harm you
breathe a quiet sigh of relief:
be relieved
growing order books: more business
outcry: protest
contentious: likely to cause
disagreement
|
