Bush just banned foreing steel
 

Bush has restricted import of foreing steel to United States.
Hahahah. What a shithead - now his going to get his ass raped by all other countries.

He did NOT BAN foreign steel

Man get your facts STRAIGHT

He impossed a 30% tarrif to STOP the Illegal DUMPING of foreign steel that was BELOW production costs

Here in cleveland almost 10,000 jobs have been lost do the the illegal dumping of steel

Now our steel producers can Compete in a FAIR MARKET

yeah ? Tell that to WTO
Muhahahahaah !! :1orglaugh

Actually it appears as though Bush's real agenda is to eliminate our dependance on foreign countries. We are increasing oil drilling on our own soil, we are increasing the number of nuke plants too. Right now our own steel companies are jumping for joy and I am enjoying this new direction.

Who is J. Bush??? Is related to the President?

Sure, but you gonna face the consequences. I heard Aussies are furious.

I would like to point out that the action is truely against FREE INTERNATIONAL TRADE. Maybe he just wants popularity , hell I dont know, and I dont care.

Quotes:

``This action was taken under the law which provides a limited time, in this case...three years for the internal industry to restructure,'' O'Neill told reporters accompanying him on a Mideast tour.

While the European Union has said it will file an immediate complaint against the U.S. move at the World Trade Organization and possibly retaliate, O'Neill said he hoped U.S. trade partners would take a second look at the matter.

``It's not, 'give us a pass for three years', it's 'provide us a window of opportunity for restructuring', and I think the way this is being implemented is going to take some of the pressure that would otherwise exist from the rest of the world community because of the steps of implementation that are going to be followed,'' the U.S. Treasury chief said.

The new tariffs cover 10 steel-product categories and range from eight percent to 30 percent. They take effect March 20 and are to be ratcheted down over three years. Imports from Mexico and Canada were exempted.

``I think hopefully this will work and will ease the process of restructuring in the U.S. industry and not cause a secondary reaction that will be negative for everyone outside of the steel industry,'' O'Neill said.

In response to a question, he said it should not hurt Bush administration efforts to push for freer global trade.

So fellow Europeans, should we give Americans 3- year pass? The poor guys really really need it!!!!

No! let's get France to declare war on them. That ought to get them to back down quicker than you can say French toast!

We dont wanna sell our steel anyways..
All USA builds with it is guns and bombers :1orglaugh

Food for thought:

Will the move backfire on other US industries by making steel more expensive?

Many American steel using companies industries are opposed to the tariffs. The lobby group, Consuming Industries Trade Action Coalition, says the tariffs will cost more jobs in industries that use steel than they will save.

They say that for example many car parts now made in the US will be made abroad.

The steel producers reject this. The American Iron and Steel Institute says the effect on consumers prices will be minimal and there will be no meaningful employment costs for steel using industries.

What are the domestic political calculations behind President Bush's move?

There are elections for the House of Representatives in November this year. The House is finely balanced and steel-producing areas such as Ohio and Pennsylvania could determine whether the Republicans retain control of the House.

It might also be an important issue in the Presidential election in 2004.

George W Bush came to power after promising to help the steel industry. He narrowly won the election of 2000, after winning two states, Ohio and West Virginia, where the steel industry has a large presence.

Do you believe evrything Bush said. LOL USA's steelmarket is an old business and need to invest in new technology.

Because other countries like Holland has new technology we can make cheaper and better steel.

Now Bush hopes with his actions that Americans buy the cheaper US steel, in stead of the European. Well believe me, this in one of the other stupid acts of Bush....

Just my :2 cents:

Andre

What a joke man ! :321GFY

Yeah we believe in democracy, freedom etc. etc. and import tariffs
The War on Economics has been started from now on :BangBang:

Economic war between who, Western Europe and US? You guys are socialists! :1orglaugh

This is a joke. Any American who has even a slight knowledge of economics knows that this is all about elections.

Unless off course US steel industry needs protection that badly because it's like Spacedog submitting TGP galleries at bandwidth cost of usd 5 per Gig.

No I'm a real economist, in fact I've studied financial economics and never learnt that import tariffs are good. Ever heard of the Free Market Theory of Adam Smith?

Really? me too
have you specialized in something yet?

how much steel does america really import? doesn't make sense to me... i bet there are some american steel stocks out of control now???

US steel imports were worth about $8.6bn last year

Haha yeah good question. What about my specialism in making babe sites :Graucho

I was just joking anyway. I don't know shit about economics actually.

Adam Smith? Yeah, that's pretty good beer! :1orglaugh

Here you can find a summary of the theory of "The Wealth of Nations by Adam Smith"
http://www.publicbookshelf.com/publi...ealth_bhj.html

If you have seen the light after reading the stuff above here, then you can read here further for a couple of days :)
http://socserv2.socsci.mcmaster.ca/~...lth/index.html

I live in Cleveland

I drive by LTV Steel everyday on my way to work

It has been closed for the last 4 months due to foreign steel dumping

It was just purchased out of bankruptcy by a comapny in NY and start up the mill again

3,000 people will get their JOBS back
3,000 more in the next 6 months as they get back online
this does NOT include the dowline business that have been effected by the shut down of steel making here

thats 6,000+ more employed people just Here in clevaland

and THAT is a GOOD thing

God Bless America

Oh and FYI

those JOBS will equate to approx

$300,000,000 in Local JOB Income from Steel YEARLY

Not including the local,state and federal taxes they pay to help keep the roads up our kids in school
ect ect

Forest, do you realize that more people in US car manufacturing business and other businesses that use steel might lose their jobs because the price of steel goes up? It is estimated by almost everyone else except those supporting Bush that more people wil LOSE their job because of this action than save their job in the steel industry.

Do you realize that your cars gonna cost more after this?

Try to see the big picture, not just what you see from your car windows..

Fuck you really don't understand it man. 3.000 extra jobs their and 30,000 jobs gone in Russia steel industry and 5,000 at General Motors for example.

hhmm why am I wasting my time ?:question

sorry Mika

I take care of my own before everyone else
so what I see outside comes first
and NO it will not drive Up the price of steel it will
Regulate it
we have 4 auto makers here also who by steel
that will Increase jobs over all

"$300,000,000 in Local JOB Income from Steel YEARLY"

... that money could be well spent on great german cars ... instead of driving an US shitbox ...

Sorry free

I need to worry about the JOBS here

Not in Russia

Forest,he also said 5000 jobs at General motors. you just dont get it do you?

5000 gm jobs are not do to regulating foreign steel

when LTV closed EVERY other steel maker in the country RAISED their prices due to Lack of American Compition

Now that LTV/ new name here is back Thos makers will DECREASE prices

Dude I LIVE this shit Everyday

This is ALL everyone talks about here

"5000 gm jobs are not do to regulating foreign steel"

... for sure it´s not, because steel becomes cheaper, and cars are not made of steel but of bubblegum, and this is why GM will employ more workers to manufacture even more cars ... hmmmm, you just don´t get it, do you ?

7 billion in export revenues to the US?

Hmm the European Union can live without that, however it will certainly have an impact on the European steel industry which will cost alot of jobs.

The European Union and the United States both have aprox. the same GDP and have the biggest trade relationship in the world.

I hate talking economics with people who dont about economics..

But let's just give it a try

Lets assume company making tires out of rubber and steel. Foreign steel is cheaper than US steel.

US tire manufacturing company buys US steel.
Foreign tire manufacturing company buys foreign steel.

Result 1: Foreign tire is cheaper
Result 2: Foreign tires will start getting imported INSTEAD OF STEEL.
Result 3: US tire manufacturing company is out of business..

Addition1: Unless USA next puts a tariff on tires, too
Addition2: Unless USA starts protecting everything

The United States does import alot of steel, alot of the steel that is imported isnt in the raw form it is parts that are molded overseas and comes to the united states in forms of peices then just added to the product being sold.

As far as the steel industry in United States the main reason why we were looking elsewhere for steel is the cost of labor, and the cost of steel period becuase of the strong dollar and goverments that have nothing else to offer but shit like steel to the united states so they can sell for a cheaper buck. I think the move is pretty much a catch 22 your screwed either way but the way he did it was pretty good considering giving the PA steel company and other producers a couple years to increase effiency, production and costs that are competitive on the world and local markets... 3 years isnt much to ask for

Besides why the hell are you foreigners bitching you tariff the shit out of our products or dont let our products even into your market ie. china, japan, etc

Lets just face it Mika - you hate everyone.
Im glad you are so angry, it made my fucking week !
Please continue to cry as it increases my personal enjoyment.

All you Americans just sit back and enjoy as Mika and all his little playmates go :waaaaahh

Well, EU, USA and Japan all have low tariff rates, (simple mean around 3.5-5%).
But the fact is that this will do USA more harm than good. And i dont care about that. What pisses me off is that people can't see why Bush is doing this... just for more votes because an average Joe thinks "Bush is a great man he SAVES OUR JOBS". It has been proven many many times (1984 in Australia for example) that protectionism will NOT help industries that are not competitive.

It is possible that it will even make things worse. They start relying on protection.

But the sad truth, again, is that 3rd world countries are the ones that suffer the most from protectionism.

I usually don´t jump on any pissing matches, even less to try to talk about free markets to Americans, but this time I think I have something to add.

The problem with US steel mills is not overprotection only (whose existence, so far, I have not seen denied, even by Americans); true, overprotection brings (only to a few people, who probably won´t give a shit if YOU lose your job tomorrow) higher salaries, higher profit margins, less motivation for improvements, etc, but only while it lasts.

A more permanent problem is that American iron ore is of a very low quality; the ore was good enough in early years of Industrial Revolution, but today many countries (notably Australia and Brazil) have much more ore, and of a much better quality.
I am not a specialist to explain what iron ore quality is, but it has clearly to do with the lower quality and higher cost of US steel.

Peace,

import taxes are always implemented when the governemnt wants to protect a given industry branch and either save jobs or raise income from taxes. EVERY country is doing it from time to time - i really don't see the point of discussion...

also, mika, don't you think that bush is relying on economists who are, ummm, slightly better than you? :1orglaugh

I'm not against America. I'm against tariffs and protectionism.

EU has tariffs as well, for US produced beef. And it's just as bad as steel tariff.

Yes, I do. Some economists who are actually doctor graduates, see protectionism as an option. But I'm sure that most don't.

As long as they dont put tariffs on Porn, case closed :)

Quote by Mika:
=======================
What pisses me off is that people can't see why Bush is doing this... just for more votes because an average Joe thinks "Bush is a great man he SAVES OUR JOBS
=======================


Politics is a dirty game. We all know that by know I hope?

Bush is increasing military (justifying it that US need to fight terrorism) - he needs money and steel for it, so he's trying to use Americas own steel to boost the economics.

The World aint gonna put up with this shit. Europe, Australia, Russia, Japan, Corea, China are fucking furious. :321GFY

NAFTA partners (Canada and Mexico) won't have to pay the 30% tax... it's Japan, China, South Korea and Russia that will be affected the most. But then, that's what they get for dumping their products.. it's unfair to other countries that can't compete against those prices.

Mexico will apply in 2 weeks a similar tax (between 25-35%) to steel imported from countries that don't have a commercial agreement with us.

Thats a lie and you know it.
Show me your posts where you complain about EU tariffs.
Show me any post where you say anything negative about any country other than the U.S.

I purposely dont follow your threads as Im embarassed for you.

Ok if you really have to know,
I hate
1. racists
2. hypocrites

bwhahahahha

fuck any country who whines and cries, I for one am tired of the US babysitting your asses.