A tricky business

GIVEN President George Bush's oft-stated free-trade credentials, it is ironic that his first big action on the trade front should be grossly protectionist. On June 22nd, at Mr Bush's direction, Bob Zoellick, America's trade representative, invoked section 201 of the 1974 trade act and asked the independent International Trade Commission to examine whether the American steel industry has suffered serious injury from imports. Given the intensity of lobbying by steel companies and trade unions, it will be no surprise if America imposes quotas and higher tariffs on steel imports when the investigation ends in a few months' time.