November 13, 2003
U.S. steel tarrifs continue to come under fire:
But the tariff was shortsighted. While the tax, in effect for some 18 months now, allowed steel companies to spend $3 billion in streamlining and reorganizing, steel consumers squawked. Auto and metal-stamping companies say the higher prices on imported steel have caused them more harm and cost more jobs than the steel industry has saved.
It is a shame to sacrifice viable industries while propping up one which cannot compete. The tarriff was a huge mistake but it can be corrected by simply repealing it.
(Hat-tip to Right Thinking from the Left Coast)
