WTO appeals panel confirms U.S. steel duties are illegal

Associated Press ^ | 11-10-03

[Oldeconomybuyer]

GENEVA (AP) -- U.S. duties on imported steel introduced last year are illegal under international trade rules, a World Trade Organization appeals panel ruled Monday, according to trade officials.

The panel upheld the major findings of a July ruling -- issued after a complaint from the European Union and seven other countries -- that said the duties break WTO rules, the officials said on condition of anonymity.

[Texas_Dawg]

WTO trying to save US from its own dumb economic policies, but this will definitely bring out the FR crazies.

Tin Foil Alert

[Tai_Chung]

To increase political pressure, many of the products targeted are produced in swing states that would be crucial to Bush's re-election campaign next year

EU trying to influence US Elections?

[Texas_Dawg]

EU trying to influence US Elections?

No.

[RiflemanSharpe]

EU trying to influence US Elections?
No.


YES!!!!

This is one of the many reasons the US should get out of the WTO.

[Texas_Dawg]

This is one of the many reasons the US should get out of the WTO.

The EU is responding with tariffs to the tariffs we put in place. How would this be any different if there was no WTO? Please explain.

[Doctor Stochastic]

Shouldn't that be steel-foil alert?

[Mad Dawgg]

"Brussels says it will start retaliating if the U.S. steel duties are still in place five days after the report has been formally adopted by the WTO, which would likely be at the end of November."

The Hawely-Smoot Tarriff act, anyone anyone?

[Coop]

The EU is responding with tariffs to the tariffs we put in place.

Which were in response to government subsidies, which I did not see mentioned at all in this article.

[JohnSmithee]

"WTO trying to save US from its own dumb economic policies"

Apparently this tariff is a product of the Bush administration. The steel industry is a simple commodity market and I fail to see the economic importance of protecting it.

[JohnSmithee]

"The EU is responding with tariffs to the tariffs we put in place. How would this be any different if there was no WTO?"

If the WTO makes no difference then why belong? Please explain.

[Texas_Dawg]

If the WTO makes no difference then why belong? Please explain.

It does make a difference. It is there to facilitate the elimination of trade tariffs. And it has done this in many areas. But as far as the EU raising its tariffs b/c we raised ours, they could and will do that whether there is a WTO or not. Just as the WTO has zero authority or say over what the US does.

[gcruse]

Heh. Yes, yes, & yes.

[gcruse]

The Hawely-Smoot Tarriff act, anyone anyone?

Why not?

"The act brought retaliatory tariff acts from foreign
countries, U.S. foreign trade suffered a sharp decline,
 and the depression intensified."

[Mad Dawgg]

"The act brought retaliatory tariff acts from foreign countries, U.S. foreign trade suffered a sharp decline, and the depression intensified."

Thanks but I already knew that...

See, I am a graduate student of the Ferris Bueller School of Economics.

Anyone Anyone?

Bueller Bueller?

[gcruse]

???