Section 201 Measures Will Not Be Given Up Without a Fight

摘要

This month sees the first anniversary of the USA's imposition of "safeguard" tariffs on much of the country's steel imports. President Bush's dramatic intervention under section 201 of the Trade Act was immediately challenged by many of the USA's trading partners with complaints to the World Trade Organisation, which recently declared the action illegal under its rules. As the US measures enter their second year, what conclusions can be drawn from the first 12 months of import tariffs and what pointers for the future can we detect?