Bush expected to end steel tariffs as early as this week

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Last updated at: (Beijing Time) Tuesday, December 02, 2003

Bush expected to end steel tariffs as early as this week

US President George W. Bush is widely expected to end US tariffs on imported steel as early as this week.

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US President George W. Bush is widely expected to end US tariffs on imported steel as early as this week.

Major newspapers including The Wall Street Journal, The Washington Post and The New York Times on Monday all reported the intention of the White House to lift the tariffs soon.

The Bush administration has been under intense pressure over the issue of steel tariffs since the World Trade Organization madea final decision last month that the tariffs are "illegal."

The European Union threatened to retaliate with 2.2 billion dollars in sanctions if the United States maintains the tariffs.

The White House promised to review the issue afterwards and said it will take a reasonable time to do the assessment.

Words were then put out in a report of The Wall Street Journal that the White House intended to revoke the tariffs in the autumn of 2004, a bit earlier than scheduled, which obviously did not satisfy the EU.

The Bush administration imposed the tariffs, from eight to 30 percent on certain kinds of imported steel in March 2002 through March 2005, to give the troubled domestic steel industry a chance to restructure.

But the decision angered other countries and many expressed their disappointment that the US government is using protectionist measures to solve its domestic economic problem.

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