The Bush administration's tariffs on some types of imported steel will probably not be sufficient to spark a recovery in the beleaguered U.S. Great Lakes iron ore shipping trades, according to industry experts.
The limited tariffs on steel imports announced last month by the Bush administration drew criticism from opposite ends of the trade spectrum, one side saying "too little" and the other saying "too much."
As the U.S. steel industry fights for a place in the future of domestic and international commerce, the casualties of the battle may be steel mill retirees, who stand to lose pension and health care benefits as manufacturers shut down and sell assets.
The U.S.-flag Great Lakes dry bulk fleet began the shipping season in early March with two fewer vessels than the 2001 season and posted what was probably the lowest vessel count for April 1 since the early 1980s.
