[I believe the last sentence should have said … protect the steel industry by allowing it to act before… at least that is the sense I get from the rest of the article. I quoted it as written, but I believe the sense of it is backwards]
The Tribune Chronicle – Your Mahoning Valley News Source
The extension of the steel import monitoring program through 2009 is good news for the steel industry and a signal that the Bush administration is keeping its word.
The monitoring program was put in place when Bush ended steel import tariffs in 2003, earlier than planned. Bush is not a tariff-type president, preferring free trade. But when presented with the facts by the steel industry early in his presidency, Bush instituted an investigation and implemented tariffs to protect what was left of the domestic steel industry.
As bankruptcies by steelmakers mounted, Bush also told the industry clearly that consolidation of companies was needed if there was to be a domestic steel industry.
Consolidation has occurred, and Bush is responding to an industry that is doing what he requested, and what is necessary, to survive.
The import monitoring program may not seem like much to the average citizen. It doesn’t prevent surges in low-cost imports or dumping of foreign products.
But it can protect the steel industry from being able to act before it is too late.
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