Bush should cut his losses and revoke steel tariffs

11/17/2003
US President George W. Bush has one way to escape a political mess he created in March 2002 by imposing tariffs as high as 30% on imported steel.He can revoke the tariffs. Doing so would alienate workers and managers in the struggling steel industry. And it would renege deals the administration made in Congress to win trade promotion authority in July 2002.Bush should revoke the tariffs anyway.His should accept whatever political losses he must in order to correct a mistake and prevent economic jeopardy.His political losses will be much worse if a threatened dispute over the tariffs materializes and stalls economic recovery.The World Trade Organization soon will decide whether to uphold i...
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