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Words in the News
 
Friday 28 March 2003
 
US steel tariffs
 
Steel factory The United States is to keep its tariffs on imports of steel even though the World Trade Organisation, which regulates global trade, has said that the tariffs break international rules. This report from Steven Evans:

 
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President Bush decided a year ago to make foreign steel companies pay tariffs of up to thirty percent when they exported to the United States. Producers throughout the world argued that the tariffs breached the international rules of trade as laid down by the World Trade Organisation, of which the United States is a member. Now the WTO panel of experts investigating the issue has agreed with the opponents of the American action in what's called an interim judgement. It is very rare for such an interim judgement not to be ratified, so the likelihood now is that Japan, the European Union and other countries will be allowed to retaliate with their own tariffs against American exports. The Bush administration said it would appeal and in the meantime the tariffs would stay.

Steven Evans, BBC North America Business Correspondent
 
 
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tariff
 
a tax on goods coming into a country
 
breached
 
broken
 
laid down
 
officially ordered to happen, officially stated
 
panel
 
a small group of people who are chosen to act as a team in this context, in order to investigate and make a decision about something.
 
opponents
 
the opponents of an idea or policy do not agree with it.
 
interim
 
temporary. Interim here describes conditions that will continue until permanent arrangements are made.
 
ratified
 
formally approved and made official
 
likelihood
 
probability
 
retaliate
 
if you retaliate when someone harms you, you harm them in return.
 
appeal
 
make a formal request for a decision to be changed
 
 
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