Posted on 06/18/2004 12:35:11 PM PDT by Willie Green
WASHINGTON (AP) -- The Bush administration on Friday proposed new tariffs on imports of Chinese-made furniture, saying companies have been dumping millions of dollars of the wooden bedroom furniture into the United States at artificially low prices.
The proposed tariffs ranged from 5 percent to 198 percent on such wood items as beds, dressers, armoires and desks, the International Trade Commission said.
(Excerpt) Read more at hosted.ap.org ...
Especially 'comfy chairs'.
ABOUT BLODDY TIME!!!!!!
BLODDY = BLOODY, caffine levels are below normal operating parameters.
Agreed. China will take us for all we're worth if we don't put a stop to them. In so many ways.
It sounds like too little too late. I wonder why he chose furniture over say, textiles or high-tech manufacturing.
OTOH, it's better than nothing...
I agree that their should be an across the board / flat tax on imports. Michigan steel is getting hit very hard from China and Russia. A corporate tax cut would lessen the blow on companies that insist on buying foreign. Seriousely though, why furniture?
Corporate Tax Cut
Lou, this started out as a relatively small problem. Congress had to figure out how to end European sanctions on American products being shipped overseas. That's only a $4-billion-per-year problem. So what did Congress do? It came up with a $150 billion solution. In fact, that ballooned to about 400 pages in this corporate tax bill loaded with goodies for people in both parties.
Of note, according to a gov't study done in the boom years of the late '90s, 60% of all corporations paid ZERO tax; the remaining 40% paid only a portion.
"companies have been dumping millions of dollars of the wooden bedroom furniture into the United States at artificially low prices."
Personally, I think we should have a large across the board tariff on imports so the economy will go into recession and Willie will finally shut up.
Looks like Dubya still hasn't learned anything from his steel tariffs and lumber duties.
LOL! that's why I consistantly advocate LOW revenue tariffs in the 10~20% range.
Go much higher than that and trade will be hindered TOO MUCH, causing revenues to decline. Maximizing tariff revenue with a relatively low flat rate on all imports will permit the greatest reduction of other forms of domestic taxation.
Yeah, those were a political pandering sham as well.
Dubya was talking outa both sides of his mouth: hyping the tariffs while riddling them full of holes like swiss cheese with hundreds of loopholes and exemptions.
It would be nice to have an administration that bases its policies on sound economic theory for the good of our entire nation instead of political pandering micro-management.
Right ..... that is what I would consider large, way past the economy-destroying point. Make it 1/2 a percent, maybe nobody will notice.
What happened to FR's fire over this issue. In Feb. this post would have had 200 replies by now.
great photo
ping
No mention in the article of Chuckie Schumer or Hillary Clinton being concerned about these lost jobs. Must be whatever furniture Hillary needs, she gets her friends to buy for her, or she takes it from the White House.
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