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Date Posted: 21:48:56 03/09/02 Sat
Author: Perceptor II
Subject: Iron-clad facts on the subject
In reply to: FawnDoo 's message, "Steeling ourselves for an argument" on 13:02:45 03/06/02 Wed

I finally found an article on the subject. Odd that I couldn't find anything about it over on the BBC website, as I was under the impression this was a more contentious issue on that side of the Atlantic.

Anyway, the facts:

* U.S. steel industry officials wanted a 40% across the board tariff. They'll be getting less than that.

* Labor unions have also been pushing hard for the tariffs, labor unions which backed Gore during the 2000 campaign.

* Imports from Canada and Mexico would be exempt from the tariffs due to NAFTA (the North American Free Trade Agreement). Developing countries such as Argentina, Thailand and Turkey would also be exempt.

* Bush is planning to impose a 30% tariff. Steel industry and union leaders appear to be resigned to the lower amount.

* U.S. steel industry executives say that the exemptions may apply to one-third of all steel imports.

* Naturally, many industry execs, particularly those from industries that buy steel, are upset about the tariffs.

* Steels slabs may also be made exempt from the tariffs. These are unrefined products that are bought and then refined into finished products.

* Thirty-one U.S. steel producing companies have applied for bankruptcy protection over the last four years.

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