WTO Rules Against U.S. on Steel Tariff

The World Trade Organization made an interim decision that the steel tariffs imposed by US President George Bush last year were illegal, and the decision is not likely to be overturned on appeal. Last spring, Mr. Bush imposed tariffs on most types of steel imported from Europe, Asia and South America. The tariffs received support from the US steel industry, but also protests from US industries needing steel input. Some US observers see a trend in WTO rulings that are unfavorable to the US and criticize the WTO for exceeding its authority. – YaleGlobal