The U.S. Department of Commerce announced that the American government would yet again cave to the demands of the Unions (Steelworkers, again!) and impose a tariff of up to 99 per cent on steel goods from China. This comes just days before President Obama is due to visit Beijing.  After attempting to create an illusion that these political disputes over trade were a thing of the past, this most recent piece of economic vandalism is bound to set off yet more rounds of tit-for-tat.  Predictably, the Chinese are not happy. and are looking to kick off their own round of anti-dumping investigations.

Yet again, President Obama's Administration seems perfectly intent on rolling over and giving the Unions whatever they want.  That approach is great for some workers, but definitely not for the rest of the American - or Chinese - economy.  By the way, hot-off-the-press U.S. employment figures surpassed the pessimistic expectations - 10.2 per cent of the population is out of work.  Hey, at least the Steelworkers Union is happy.