Posted on 08/01/2005 11:38:19 AM PDT by Tenacious 1
TOKYO — Japan will slap 15 percent levies on U.S. steel imports (search) starting Sept. 1 in retaliation for American steel industry protection measures, the trade ministry said Monday, turning up the heat on a long-festering dispute between the world's two largest economies. The tariffs, which could rise as high as $51 million, will target ballbearings, airplane parts and other steel products, the Ministry of Economy, Trade and Industry said. Japan has long demanded the repeal of duties imposed by the United States on Japanese steel products under the so-called Byrd amendment (search), an antidumping law ruled illegal by the World Trade Organization (search). Trade Minister Shoichi Nakagawa said Tokyo had no choice but to move after realizing there was very little chance that the amendment would be repealed before the end of the fiscal year ending Sept. 30. "Therefore, the Japanese government has decided that there is a need to more effectively pressure the U.S. by implementing retaliatory measures and promoting the repeal of the amendment in Congress," he said in a statement. The tariffs would not be imposed if the Byrd Amendment — named after West Virginia Senator Robert Byrd — were repealed by Sept. 1, trade officials said.
(Excerpt) Read more at foxnews.com ...
Good Rant. Too much logic for the dems though.
You mean they expect something to happen here in August?
Time for a 15% across the board tarrif on all imports?
"Time for a 15% across the board tarrif on all imports?"
Ironically, we are in the midst of passing CAFTA which among other things, asks North and Central American countries to remove tarrifs on Amercan imports. Former trade agreements has Amerca dropping tarrifs to encourage growth in those (mostly 2nd and 3rd world) countries and it never panned out. We seem to have oposite trade strategies with different economic partners and they seem to be excactly opposite for the conditions in both cases!
AARHG!
But it is uninformed, nevertheless.
Steel production is not a labor intensive industry.
And US steel production in particular, is among the most efficient.
However, federal environmental regulations impose an economic burden on the domestic steel industry that make it less competitive in the world market.
As Walter E Williams would say, why does Japan want to punish it's citizens for buying US steel?
Does Japanese steel production adhere to the same environmental standards? Perhaps we can justify the import tarriff on them as concerning the environment?
"Good Rant. Too much logic for the dems though."
"But it is uninformed, nevertheless.
Steel production is not a labor intensive industry.
And US steel production in particular, is among the most efficient.
However, federal environmental regulations impose an economic burden on the domestic steel industry that make it less competitive in the world market."
Uninformed is the wrong word. Pointing out that my rant is only on portion of the problem would have been more appropriate. I agree with your comments. However, the here and now is not where our robust steel industry's demise began. And Union demands are still a small part of the problem.
For instance, Unions still demand positions for each of the automated functions of steel plants. There must be a body to watch the machine. Production is higher but so is production costs. The ordeal started when Unions were needed and then outlived their necessity in the industry. When unions pushed passed safetey, reasonable hours, working conditions and fair pay to demand no machines replace workers, more benefits, etc. The unions strongarmed the industry into submission to the point where owners and investors gave up. Add the EPA, Environuts, WTO haters, and the investor class moved on.
In the old days, the Steel Tycoons needed to be rained in and the rain just kept falling.
Globalization as you envision will lead to an equalization of pay across the globe. Do your relatives and progeny wish to work for $3.00/hr? I don't. Certain protective measures slows this decline to an acceptable level, otherwise industries that have to do with the security of this country would face elimination and then our security would be dependent on the trust of other countries/governments. Limited free markets are a way to sustain the economy and our security. YMMV.
Simple, stop shipping them wood.
Well...as far as the nuts and bolts of the steel industry, perhaps so...but as far as general "follow the bouncing ball" logic is concerned...it's a good rant. IMHO.
Japan must want to punish it's companies that use steel, like the auto industry for example.
Where does tariff money go? Answer: to some government entity. Where does tariff money originate? Answer: your pocket. Why would anyone be anxious to invoke tariffs? Tariffs reduce consumer purchasing power and enrich governments. The politicians engage in a public cat fight and consumers suffer the consequences.
as one who has had to follow the steel market for many years, and try to buy products as competitively as possible, I have become wise to the game the american steel industry plays. It goes something like this, a coupla boatloads of beams arrive in port, the steel nazi's immediatly claim this country is dumping steel at below market prices. The feds immediatly slap a hold on this steel, pending an investigation that lasts between 6 months and 1 year. Immediatly following the hold placed on the steel, the steel nazi's raise their prices, because there is no competition, you have to buy their steel at their prices. The investigation finishes up and finds no illegal dumping has occured. the steel is released from hold, and the steel nazi's immediatly lower their prices. then the next target is steel plate, and the same process occurs again, over and over. The american steel companies are unwilling to be competitive in the world marketplace, so they use this subsidy ( when the government uses investigations to artifically keep prices high, that is the same as a subsidy ) to demand higher prices due to a lack of competition. and who ends up paying for this? the american consumer, in higher prices for anything made from steel...........
Where did you get this, Mr. Conservative? You apparently have absolutely no clue about the economy and the state it is in.
The economy is as good of a shape as it's ever been.
Stop this socialist propaganda.
and there are so many without jobs,
False. There are very few people without jobs. Read a newspaper. Even your fellow commies in the newspaper acknowledge this fact. starving children, homeless families, ......... This is really amazing: a DU broadcast on FR.
When "conservatives" are socialists and even commies as this one, no wonder the country is going down the drain.
"There are very few people without jobs. Read a newspaper. Even your fellow commies in the newspaper acknowledge this fact".
You are spot-on! A friend of mine working for a company that developes armored cabs for our military, recently told me that they are in dire need of employees. His company has had to hire people on parole (with ankle bracelets just like Martha wears), and engineers that have a hard time stringing together a sentence using proper English. A shortage of work is nothing more than a damnable dim-O-rat lie, one of MANY... a shortage of qualified workers is a problem!!!
LLS
Isn't the tax structure here a de facto import tariff imposed on ourselves, paid by our import properties??
................................and grain, and iron ore, and bauxite, and oil, and scrap steel, and fish, etc....
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