Steel companies urge action on Chinese imports

Bush has already signalled he won’t do this, he’s anti-protection, and the point has been made many times that, on the whole, having consumer companies of steel (like stampers) get better prices creates more jobs than the steel companies have.

Yahoo! News

U.S. steel companies have asked the Bush administration to ‘get serious’ about unfair Chinese trade practices they said have fueled a huge increase in China’s steel exports to the United States.

However, a few paragraphs further down, hidden under an ad, is a bigger issue.

Washington also should consider launching a World Trade Organization case aimed at stopping subsidies that encourage Chinese steel production, and take “effective steps to end China’s manipulation of its currency, which … acts as a major subsidy to Chinese producers,” the steel companies said.

You know, in WWII, currency manipulation was an act of war. Why is it that Bush can’t see that it’s happening again now?

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.