As expected, Dubya is forced to capitulate on his earlier steel protectionism. “Employing relatively untested powers, the eight-year-old World Trade Organization authorized European and Asian nations to devise retaliatory tariffs against the United States, just 11 months before a presidential election. Not surprisingly, the Europeans pulled out an electoral map and proudly announced they would single out products made in the states Mr. Bush most needs to win a second term.” Clever, clever.
Tag: Steel
The Riddle of Steel.
Not unlike most of the policies articulated by this administration, Dubya’s protectionist steel tariff has backfired in every way possible. “The strategizing was ‘too clever by half,’ [Bruce] Bartlett, the [conservative] economist, said. ‘It presupposed that nobody was watching what we were doing, and it presupposed that our credibility was of no importance.’” Sound familiar? But, hey, give credit where credit is due…under the Bushies, the rich are getting richer.