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Thus, trade restrictions indirectly force other companies utilizing steel products, such as General Motors and Caterpillar, to contract and make it more difficult for them to compete at an international level. Tariffs that were placed on steel imports by President George W. Bush in March 2002 had a significant impact on the steel consuming industries. A study conducted for the Consuming Industries Trade Action Coalition (CITAC) Foundation by Dr. Joseph Francois and Laura Baughman in 2003 suggests that tariffs caused shortages of imported steel products and put U.S. steel manufacturers at a disadvantage compared to foreign competitors...
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