PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Don Hurst who wrote (285987)	8/12/2002 3:40:00 PM
From: TigerPaw	Read Replies (1) of 769667

Bush Jr. backs loan to Brazil. cnn.com Before he reached home, the Bush Administration surprised everyone by signing off on a $30 billion International Monetary Fund (IMF) rescue loan for Brazil, The real interesting problem is why Brazil needed the money right away. washingtonpost.com would face additional tariffs of more than 100 percent on cold-rolled steel -- tariffs that would be imposed on top of the ones of up to 30 percent that the administration has slapped on. Brazil, which is receiving U.S.-approved international financial assistance to stave off economic collapse, has already seen its cold-rolled steel exports to the United States plummet by around 80 percent since last year. It could now face additional tariffs of 43 percent. The net effect is that Junior is sending our tax dollars and IMF funds and channeling them to his supporters in the steel industry. Income redistribution is the usual term. TP

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