Bush announced, on March 5, that he would impose 30% import tariffs on most categories of steel.

This dramatic development came in response to the cumulative effect of decades of free trade and globalization. Over the past five years, 31 American steel companies had

filed for bankruptcy, over 40,000 unionized steelworker jobs had been lost, and steel prices had reached a 20-year low, virtually assuring the near-term extinction of the entire industry.

More. . .

The Bush Administration Confronts Depression and War

U.S. Treasury Secretary Paul O'Neill spent last week sparring with U.S.Federal Reserve Bank chairman Alan Greenspan, over which of them could publish the more preposterous lies about the non-existent recovery of a collapse-stricken U.S. physical economy. However, other U.S. decision-makers,in both the Bush Administration and the Congress, were reacting to the onrushing depression by initiating seismic changes in U.S. trade and infrastructure policy. In a belated response to the grave collapse of the U.S. physical economy, President