U.S. House says YES To tariffs on cheap steel

U.S. House says YES To tariffs on cheap steel

Steel tariff decisions made by the Bush administration won the vote on Capitol Hill this week in the U.S. House Republican leaders gave an overwhelming vote of approval to back the Bush adminstration's steel tariffs. The vote kills any chances of a disapproval resolution, sources say. The resolution would have substituted Bush's tariffs of up to 30 percent with lower tariffs recommended by the International Trade Commission to address imports of cheaper, heavily subsidized foreign steel. There had been considerable debate on Capitol Hill about this issue with some calling the vote a "procedural smokescreen" designed to protect lawmakers in some diffcult re-election campaigns from having to explain such a tough, economic vote. The sponsor of the resolution, Representative William Jefferson of Louisiana commented to the press that Bush's decision was totally unjustified and would cost jobs in maritime-related industries. Others on Capitol Hill, reiterated Jefferson's remarks by adding that many other jobs will be impacted by Bush's action. Opponents of the tariff said Bush's actions would increase prices on products that use steel such as automobiles, increase tensions with U.S. trading partners and threaten the U.S. position before the World Trade Organization. Meanwhile, the domestic steel industry, its unions and related industries that include iron and coal mining all favor the heavy tariffs.