Twisting the Knife.

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.

Rough Trade.

So, unless Dubya capitulates to the WTO, it looks like his botched protectionist ploy for steel state votes is going to result in an all-out trade war with the EU. Nice going, y’all…exactly the type of leadership we’ve come to expect from the Bushies. My bet is they back down – After all, Florida orange-growers are a juicier segment of the electorate than West Virginia steelmakers.