George Bush has apparently just announced that he will decide whether to lift steel tariffs “within a reasonable period of time.” He’s been offered an easy way out by Pascal Lamy, according to the Washington Post. He can simply declare, as Lamy has, that the US steel industry has restructured, the policy succeded, and now the tariffs can be dropped.
If Internet gambling was legal, I’d put €10 on “a reasonable time” meaning the third week of November, 2004.
I reckon the gentlemans way out is easy due to China-related global steel price rises. Incidentally the real action may be coming off in another direction. China Daily just published this:
“Chinese Foreign Minister Li Zhaoxing said Thursday that China supports Iran’s cooperation with the International Atomic Energy Agency (IAEA), and hopes the Iran nuclear issue will be properly resolved within the IAEA framework as soon as possible…………
Li said China welcomes and appreciates Iran’s positive stance and action, and supports Iran’s complete cooperation with the IAEA.”
*Pascal* Lamy. I took the liberty of changing it.
Oops. What did I say?
Patrick.
“If Internet gambling was legal, I’d put €10 on “a reasonable time” meaning the third week of November, 2004.”
1. I wouldn’t bet against you as I’m fully buying in to your arguments
2. I thought internet gambling was legal, as undesstood from http://www.tradesports.com http://www.ladbrokes.com http://www.unibet.com etc…
Maybe not in Belgium?
I gather that it’s not legal in Belgium, and that it’s not legal to place bets over the Internet to servers in places where it is legal. However, I could be mistaken. Since those 10 euros were of a purely rhetorical nature, it doesn’t much matter.
I should have noted that *Pascal* Lamy is the EU trade commissar.
Edward, I don’t see the link between Iran and the steel tariffs. Yes, the US needs a favour out of Beijing – actually, it needs several – but is China’s interest in the global steel trade enough to really make that worth trading on? My understanding is that Chinese steel is fairly low grade and is being sold mostly to the domestic market, and that the US steel manufacturers tend to specialise in high-grade products for manufacturing rather than bulk steel for construction, so they aren’t really competing with China even in the US market.