Bush abolishes tariffs on steel imports

The President of the United States, George W. Bush, has officially abolished tariffs on steel imports 16 months ahead of schedule in order to avoid tension in trade relations with Europe and Asia and the risk of retaliation.

The Us government has had to respect the opinion of the Wto, but the system of license control and import monitoring aimed at minimizing any surge in offer will remain in place.

The European Union is satisfied and has consequently suspended the sanctions planned for the Usa (including a 30% tariff on American sunglasses).

(Source: Reuters)