in their OpinionJournal column. It also points out the cost of the tariffs in the first place.
The World Trade Organization surprised no one yesterday when it once again ruled that the 30% steel tariffs the Bush Administration imposed in 2002 are a violation of global trade rules. Now the question is whether the Administration will use the verdict as a convenient way to extricate itself from the tariffs. The other option is to sit by as the world levies billions in retaliatory duties.
The U.S. appeal to the July WTO ruling against the tariffs never had a snowball's chance in a steel furnace of success. It was, however, a way to delay global trade retaliation until at least September. That marked the midway point of the three-year tariff span and the first opportunity for President Bush to decide whether to dump them. This second WTO ruling gives him another opening, and we can only hope he's realized that this protectionist ploy has been a bust from every angle.
Current Events » in reply to re: the problem is how do you now eliminate the tarriff
The Wall Street Journal addresses this today...
