Posted on 12/04/2003 11:34:05 AM PST by sarcasm
WASHINGTON (Reuters) - U.S. Trade Representative Robert Zoellick said on Thursday that the decision to end steel tariffs was based on studies showing the tariffs were no longer needed rather than out of fear of retaliation.
Speaking to reporters at the White House after the Bush administration announced it was scrapping steel import tariffs 16 months earlier than scheduled, Zoellick said the decision stemmed from the administration's analysis that they were no longer needed rather than on a World Trade Organization ruling that they were illegal.
``What I'm saying is this process was independent,'' Zoellick said. ``In other words, the decision that the president made was (based) on an independent analysis.''
Other nations had threatened to impose tariffs on billions of dollars worth of U.S. imports to their countries unless the United States ended the steel tariffs.
The European Union was set to slap duties on $2.2 billion of politically sensitive U.S. exports if the tariffs were not lifted. Japan had also threatened to hike duties on $458 million of U.S. goods.
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