Governments and companies in Asia and Europe have welcomed President George W Bush's decision to repeal US tariffs on imported steel.
This report from Stephen Evans:
President Bush has been criticized at home and abroad for the tariffs he imposed just over eighteen months ago. The World Trade Organization ruled that they broke international rules, and steel users in the United States said they did more harm than good to the American economy by bumping up the price of steel. Even though the tariffs are being removed earlier than planned, Mr Bush is giving no sense of backing down.
The Administration says the tariffs were meant to be a temporary measure designed to give the American steel industry time to reorganize in the face of unfair competition from abroad. It's not clear that the decision will do Mr Bush much political damage. It may harm him in some steel-making States like Pennsylvania, but other areas -- notably Florida, which was facing retaliatory tariffs from the European Union -- may breathe a quiet sigh of relief.
In truth, the economy is growing quickly and the dollar is weak -- both reasons for the American steel industry to have growing order books now, so diminishing any outcry against the removal of what was a contentious policy.
more harm than good
más daño que los benenificios que trae
the face of
debido a, en este caso
a modo de venganza
breathe a quiet sigh of relief
growing order books
más órdenes de compra