On Wednesday March 6, President Bush imposed tariffs as high as 30% on most steel imports coming to the US from Asia and Europe. This will hit European steel makers hard, especially in Britain where there is a slump already in the steel industry. In periods of capitalist economic downturn, national interests predominate over international. Bush is supposedly a supporter of the "free market". But the Wall Street Journal called the tariff "perhaps the most dramatically protectionist step of any president in decades." By Michael Roberts. (March 7, 2002)
We are also publishing two articles from the British Marxist magazine Socialist Appeal about the desperate plight of the steel industry in Britain and its workers. Steel industry correspondent Miles Todd explains that industrial action is the only way to prevent massive job losses.