EU foreign ministers approve steel strategy against U.S.

<br>(Luxembourg-AP) -- European Union foreign ministers are backing proposals calling for retaliatory tariffs on US exports. <br><br>This is despite conciliatory moves by the United States to exempt some

Monday, June 10th 2002, 12:00 am

By: News On 6



(Luxembourg-AP) -- European Union foreign ministers are backing proposals calling for retaliatory tariffs on US exports.

This is despite conciliatory moves by the United States to exempt some European steel products.

EU Trade Commissioner Pascal Lamy says today's decision will send a ``clear political signal'' to Washington that the EU will not be lured into seeking individual deals.

The EU is challenging the Bush administration's decision to impose tariffs on imported steel to the World Trade Organization, but is moving to enact measures of its own while the case is heard.

Since 1998, the US steel industry has been devastated by low-cost foreign imports.

Dozens of companies have filed for bankruptcy, and some have closed.

President Bush imposed the tariffs to give the industry some time to regroup. But the EU says the tariffs are illegal under World Trade Organization rules.

A decision by the World Trade Organization is not expected for another two years.
logo

Get The Daily Update!

Be among the first to get breaking news, weather, and general news updates from News on 6 delivered right to your inbox!

More Like This

June 10th, 2002

March 14th, 2024

December 4th, 2023

September 25th, 2023

Top Headlines

March 28th, 2024

March 28th, 2024

March 28th, 2024

March 28th, 2024