Political Karma Can Be a Bitch

After the US moved to impose tariffs on steel imports to protect its dying domestic steel industry, we were a bit confused as to why a conservative President – who should be, typically, in favor of free market capitalism – would go the way of erecting barriers to free trade. The optimist in us would like to think it was to protect American jobs, and not to curry favor in steel-producing states which as this article suggests might be the case.

Of course, optimism about political motives is usually foolhardy. So, in a countermove that we consider brilliant, the European Union is set to impose import tariffs on products produced in those states which only narrowly went Republican in the last election – in what could prove to be a swift kick to the political groin of President Bush. Normally we would boo and hiss about trade barriers – but retaliatory measures are acceptable if they return us to a more free marketplace in the long run.

Now it gets interesting…

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