European Union Imposes Steel Tariffs

Danielle Jackson

Washington, D.C. -- In response to President George W. Bush's announcement to place new U.S. duties on such imports as steel, the European Union (EU) on Wednesday approved tariffs on steel imports to protect itself against a probable surge.

Bush made his decision to impose tariffs based on an International Trade Commission (ITC) investigation. The ultimate goal is to boost domestic steel-consuming and steel-dependent industries, such as the waste industry.