BlueScope welcomes Bush's decision

BlueScope welcomes Bush’s decision

Australian steel producer and exporter BlueScope Steel Ltd. welcomed President George W. Bush's decision to end tariffs on steel imports imposed 20 months ago to protect US steel makers. BlueScope officials stated that significant volumes of its steel slab and hot rolled coil were exempt from the tariffs. However, the tariffs applied on the exports from its subsidiary New Zealand Steel and Australian exports of product lines such as cold rolled coil and tin plate. BlueScope CEO Kirby Adams expressed that the company has objected to these tariffs from the beginning. Kirby Adams who is also chairman of the International Iron and Steel Institute, said tariffs aren't the solution to the troubles of the US steel industry which should focus on structural and cost issues to become internationally competitive. He stated that it is clearly seen how volatile the steel industry gets with the governmental intervention which is not conducive to developing long term, constructive trade relationships.