TEXT E In response to today’s
World Trade Organization (WTO) Appellate Body decision declaring the Bush
Administration’s Section 201 steel tariffs contrary to WTO obligations,
Consuming Industries Trade Action Coalition Steel Task Force (CITAC STF)
Chairman William E. Gaskin urged President Bush to terminate the steel tariffs
immediately. Gaskin stated, "In addition to the continuing
damage and job losses that the tariffs are causing U.S. steel consumers, the
U.S. now faces billions of dollars in retaliatory tariffs by our trading
partners. For the sake of the U.S. manufacturing sector, it’s time to end the
tariffs now. Manufacturers need some positive news and a quick end to the steel
tariffs will help send a message that the President supports American
manufacturers and understands the requirement that they be globally
competitive." The WTO Appellate Body ruling today that the U. S.
steel tariffs violate the WTO Safeguards agreement was widely expected. "As the
world’s leader in trade liberalization and opening markets around the world, the
United States cannot afford to ignore the requirements of the WTO system," said
Lewis Leibowitz, Counsel to the CITAC STF. "Our preliminary review of the
decision indicates that it is consistent with WTO precedent in ruling that the
U.S. violated the WTO Safeguards Agreement in imposing the tariffs last year.
Based on Article 8 of the Agreement, the EU and seven other countries would be
within their rights to impose restrictions on U.S. exports potentially totaling
billions of dollars, not to mention other countries that did not bring a case
against the U. S." The WTO Appellate Body decision will become
official in early December. The European Union (EU) has announced that it will
retaliate on U.S. exports to the EU worth $ 2.2 billion five days after the
decision is official unless President Bush ends the tariffs. Other U.S. trading
partners are expected to announce retaliatory measures as well.
President Bush is expected to decide any day on the future of the steel
tariffs. In September 2003, the U. S. International Trade Commission’s midpoint
review of the steel tariffs showed that the tariffs have cost the U.S. economy $
987.2 million and thousands of U.S. jobs. Numerous economic studies have also
found that the tariffs caused far more damage to the U.S. economy than helped
the domestic steel industry. Gaskin concluded, "Eliminating the
steel tariffs will remove a tax being paid by U.S. steel consuming industries
and avoid damaging tariffs being placed on U.S. exports by the EU and other
trading partners. The debate should be over. Any good that the tariffs might
have accomplished has been achieved and it is time to end them." Judging from context, which party may be affected most badly by the steel tariffs
A.The America’s trade partners B.The American steel industry. C.The American manufacturers. D.The American economy.