President Bush will impose tariffs of 8 percent to 30 percent on several types of imported steel under a three-year plan to aid the ailing U.S. steel industry.
White House officials, speaking on condition of anonymity, said the tariff-and-quota plan is a three-year deal that can be amended by Bush if the steel industry's financial crises worsens or improves.
The move, while short of the 40 percent tariffs sought by the industry, was generally applauded by industry and drew opposition from America's allies.
The long-awaited decision was to be announced in a White House later Tuesday. It was described by advisers and lawmakers who were briefed as a compromise approach, one designed to protect the U.S. industry while minimizing backlash from overseas and from U.S. manufacturers that rely on cheap steel.
The plan exempts several trading partners, including Canada and Mexico, and does not embrace an industry-sought $10 billion bailout of pension and health care costs of retired workers from bankrupt companies, sources said.
White House officials provided details of the plan, including:
Tin mill steel, a 30 percent tariff.
Flat steel products including cold-rolled, plate-rolled and coated sheet steel, 30 percent.
Hot-rolled bar and cold-finished bar, 30 percent.
Carbon and alloy fitting and flanges, used in car production, 13 percent.
Circular welded tubular products, 15 percent.
Stainless steel bar, 15 percent.
Stainless rod, 15 percent.
Stainless steel wire, 8 percent.