In the summer of 2002 President Bush made good on his campaign promise to steel workers. He enacted tariffs of up to 30% on 10 types of steel imports, claiming the U.S. steel industry was suffering from unfair trade practices by foreign firms. Were the integrated steel firms really harmed by foreign competition, or were there other reasons for the decline in the steel industry? Did President Bush have other motives when he placed tariffs on steel imports?
Major Themes in Economics
©2004 by Major Themes in Economics
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"Protecting the Steel Industry for all the Wrong Reasons,"
Major Themes in Economics: Vol. 6
, Article 7.
Available at: https://scholarworks.uni.edu/mtie/vol6/iss1/7