The Antiglobos Aren’t Celebrating Only Because They Don’t Understand It
It’s official, and it comes as no surprise that President Bush announced steel tariffs of 8-30%.
A callow move designed to buy votes in the Rust Belt, Bush is also hoping to wrangle Trade Promotion Authority back out of Congress in exchange for his craven cave-in to special interests.
First off, Congress is not going to give Bush TPA. Second of all, we’ve just shown our trading partners that we’ll gladly screw them in exchange for a handful of votes — that surely can’t be good come the next round of trade talks.