Bush imposes tariffs up to 30% on steel imports

WASHINGTON >> President Bush today slapped punishing tariffs of 8 percent to 30 percent on several types of imported steel in an effort to aid the ailing U.S. industry, drawing criticism from American allies and mixed reviews in Congress.

"An integral part of our commitment to free trade is our commitment to enforcing trade laws to make sure that America's industries and workers compete on a level playing field," Bush said in a statement issued by the White House.

The tariffs will undoubtedly be passed on to consumers, but the administration did not estimate by how much. "Guessing prices is not my business," U.S. Trade Representative Robert Zoellick told reporters at the White House. He has previously called tariffs tax increases, a position embraced by many Republicans.

Critics say increased tariffs will raise prices on items including cars, houses and appliances. One critical study suggested the average family of four would spend up to $283 more a year.

Bush urged U.S. steel companies to take advantage of the "temporary safeguards" and restructure their industry. The tariffs-and-quota plan, which takes effect March 20, can be amended by Bush if the industry's financial crisis worsens or eases in the next three years.

The action, while short of the 40 percent tariffs sought by companies, was generally applauded by industry.

S.F. Examiner mulls plan to become a tabloid

SAN FRANCISCO >> The San Francisco Examiner is mulling plans to become a tabloid in an effort to make readers "perk up and take notice" of the newspaper, which has been marked by management upheaval since an ownership change in late 2000.

The paper expects to make a final decision on whether to switch from the industry's more common broadsheet format during meetings later this week, Examiner Executive Editor Zoran Basich told The Associated Press yesterday. The Examiner hopes to unveil its new look in mid-May, Basich said.

The redesign is just the latest in a series of changes at the Examiner since local publisher Ted Fang took control of the paper from the Hearst Corp. in November 2000. New York-based Hearst agreed to provide Fang and his family with a $66 million subsidy to run the paper for three years to gain antitrust approval of its $660 million purchase of the much-larger San Francisco Chronicle.

Costco second-quarter net increases 9 percent

Issaquah, Wash. >> Costco Wholesale Corp.'s fiscal second-quarter earnings rose 9 percent as the biggest U.S. chain of warehouse clubs opened more stores and boosted sales of items such as electronics.

Net income rose to $192.6 million, or 41 cents a share, in the quarter ended Feb. 17, from $176.6 million, or 38 cents, in the year-earlier period, the company said in a statement.

Revenue, including membership fees, climbed 13 percent to $9.38 billion from $8.31 billion.