Global defiance threatens US steel tariffs

Alan Peat THE US “safeguard” steel tariffs imposed in March 2002 - and declared “illegal” by the World Trade Organisation (WTO) on November 11 - have raised the threat of a transatlantic trade war. If the White House remains defiant, and refuses to remove or drastically reduce these tariffs, the international press reports that Europe’s response could be to slap retaliatory duties on about US$2.2-billion of products - all selected to hurt producers in ways likely to do maximum damage to George Bush in next year’s presidential election. SA steel exporters have already been hit by US anti-dumping actions.