U.S. Appeals WTO Ruling on Steel Tariffs (will take 9 months)

GENEVA (Reuters)

The United States on Monday appealed against a World Trade Organization (WTO) panel finding that hefty tariffs it imposed on steel imports in March 2002 violate global trading rules.

The long-awaited move means that the tariffs -- which initially added up to 30 percent to the cost of foreign steel and steel products in the United States -- can stay in place for at least another nine months, and perhaps more. ---

``It is clear that the Europeans are the most affected by these tariffs. We are faced with a situation that is absolutely unacceptable,'' said Eurofer Director Christian Marri.

Apart from the EU, complainants ranging from Japan, Brazil and China to South Korea, New Zealand, Norway and Switzerland say their steel exporters have lost billions of dollars in reduced sales to the United States. ---

Banish bush From Texas Too

Oh the damage done.