Steel Tariffs Lifted

[Variance]

Steel Tariffs Lifted

Automakers won a surprise victory Thursday as the U.S. International Trade Commission lifted most of the 13-year-old tariffs on imports of a high-grade steel used in cars -- a move that should boost ailing Detroit automakers by lowering prices. In a 4-2 vote, the commission lifted tariffs on flat-rolled corrosion-resistant steel from Canada, France, Australia and Japan, but sided with the steel industry and kept them on imports from South Korea and Germany for another five years.

In an unusual display of solidarity, General Motors Corp., Ford Motor Co., DaimlerChrysler AG, Toyota Motor Corp., Nissan Motor Co. and Honda Motor Co. jointly worked to end the duties, which they argued had cost them more than $3 billion since 2003.

"This takes the cork out of the bottle," said Stephen E. Biegun, Ford's vice president for International Governmental Affairs, who noted the action will lead to a more competitive market.

The Detroit News

[FAPTurbo]

Good.

Tariffs do nothing but hinder trade and cooperation.

America's tariffs on Canadian steel upset me the most. I'll spell out why... N-A-F-T-A.

[aaaantoine]

This move will not only aid Detroit automakers, but also other auto companies with plants in the US.

This is good news for the US Big 2, DCX, and the Japanese Big 3.

And Hyundai, Kia, and BMW. I think that covers everyone.

[AxelTheRed]

Good news for the Big Three.

Toyota and Honda get all the good news, I'm glad that Detroit's getting some now.

[CSpec]

This is way overdue... tariffs are ugly and hurt everyone (except in very specific situations).

[Intrepidation]

Good news for all really. That should help everyone save some costs.