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June 7, 2002

Not that it’s important, of course Also via Dodgson, the Washington Post on the results so far of those steel tariffs:
The cost of hot-rolled steel, an industry benchmark, is up from $210 per ton late last year to $300. Makers of car parts and other steel users, which account for many more jobs than steel producers do, report that suppliers are reneging on promises to deliver steel and holding out for extra money. The result is likely to be job losses in manufacturing and higher prices for American consumers.
That’s what you get when you put Karl Rove in charge of economic policy. [10:25 AM]
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Comments on Not that it's important, of course:

Bob Webber ::: (view all by) ::: June 07, 2002, 11:42 PM:

From the point of view of steel producers who wanted the tariff in the first place, it's working perfectly: they're making more money without having to work harder for it. Although the stimulus is "corporationist," the response is pure market: prices rise in response to fixed demand and diminished supply.

Note that as an effect of increasing domestic steel production, whether new steel from ore or recycled steel, US energy consumption rises. Who could that possibly benefit?