from the BBC
Steel tariffs have raised costs for US industryThe World Trade Organisation (WTO) has confirmed that US tariffs on steel imports are illegal.
The WTO's announcement is a victory for the European Union (EU), and puts fresh pressure on Washington to withdraw import duties on steel.
The WTO appellate body upheld the decision of a panel of trade judges that the tariffs were not consistent with international trade rules.
The US said it "disagrees" with the ruling and would review the decision.
The trade organisation said the US measures were "inconsistent" with free trade agreements.
We hope that President Bush will act quickly to remove the... restrictions, so that we can get on with supplying our US customers on a fair and equitable basis
Spokesman for Anglo-Dutch steelmaker Corus
It said: " The appellate body recommends ... the United States to bring its safeguard measures, ... into conformity with its obligations under WTO rules", the 186-page ruling said.
The EU, whose steel industry has undergone a painful reorganisation, had joined forces with Brazil, Japan, and other exporters to complain to the WTO about the US tariffs, imposed 21 months ago.
The European Commission has drawn up a hit list of US imports worth about $2.2bn a year - including Harley Davidson motorcycles, citrus fruits and textiles - which will be targeted with retaliatory sanctions.
Riiight - they are going to gripe about our tarrifs on steel and turn around and impose tarrifs on our stuff... That's going to go over really really well.
Note that this is the EU - "New" European countries who aren't in the EU are doing just fine and don't need this level of protectionism.
Posted by DaveH at November 10, 2003 9:58 AM