Bush Imposes Costly Steel Tariffs

WASHINGTON (AP) - President Bush (news - web sites) on Tuesday slapped punishing tariffs of 8 percent to 30 percent on several types of imported steel in an effort to aid the ailing U.S. industry, drawing criticism from American allies and mixed reviews in Congress.

"An integral part of our commitment to free trade is our commitment to enforcing trade laws to make sure that America's industries and workers compete on a level playing field," Bush said in a statement issued by the White House.

He urged U.S. steel companies to take advantage of the "temporary safeguards" and restructure their industry. The tariffs-and-quota plan, which takes effect March 20, can be amended by Bush if the industry's financial crisis worsens or eases in the next three years.

The action, while short of the 40 percent tariffs sought by companies, was generally applauded by industry.