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Congress approves punitive tariffs against China
AP ^ | March 9, 2012 | Jim Abrams

Posted on 03/09/2012 11:37:47 AM PST by 1rudeboy

WASHINGTON (AP) — Congress on Tuesday overturned a court decision and reaffirmed that the government has the right to impose higher tariffs on goods from China and other state-run economies that subsidize their exports to the United States.

The House voted 370-39 to pass the measure and send it to President Barack Obama for his signature. The Senate approved it Monday on a voice vote with no debate.

"By passing this law, Congress has taken a clear stand against the unfair trade practices that have put countless American jobs in jeopardy," Vice President Joe Biden said in a statement.

The speedy and bipartisan congressional action came after a federal appellate court ruled in December that the Commerce Department did not have the authority to levy the punitive tariffs because Congress had never explicitly given the agency that right.

The Commerce Department has been applying these "countervailing" duties since 2007. The legislation ensures that 24 existing higher tariff orders and six pending investigations against imports from China and Vietnam will continue to be valid. Of those 24, 23 are directed at Chinese subsidies.

The duties are allowed under World Trade Organization rules to counteract unfair subsidies used by countries, such as China and Vietnam, with non-market economies. China agreed to abide by countervailing duty laws when it joined the WTO in 2001.

"China distorts the free market by giving enormous subsidies to its producers and exporters," said House Ways and Means Committee chairman Dave Camp, R-Mich.

(Excerpt) Read more at ctpost.com ...


TOPICS: Business/Economy; Foreign Affairs; Front Page News; Politics/Elections
KEYWORDS: china; government; loselose; notagain; nowin; stupid; tariffs; tradewar
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1 posted on 03/09/2012 11:37:54 AM PST by 1rudeboy
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To: 1rudeboy

Not a good idea, in my opinion.


2 posted on 03/09/2012 11:40:26 AM PST by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: Mr Ramsbotham

“Not a good idea, in my opinion.”

I vaguely remember the movie Rollover. Wonder if China will just cash out.


3 posted on 03/09/2012 11:42:55 AM PST by EQAndyBuzz (Solyent Pink is Sheeple!!!!)
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To: Mr Ramsbotham

A feel good measure that may cost us in the long run. If anyone was concerned about American jobs, decrease the employers costs and paperwork associated with hiring US citizens.


4 posted on 03/09/2012 11:44:09 AM PST by momincombatboots (Back to West by G-d Virginia.)
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To: EQAndyBuzz

In terms of unintended consequences, that might be the best outcome for us.


5 posted on 03/09/2012 11:45:24 AM PST by 1rudeboy
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To: 1rudeboy

I keep forgetting Obama cares about American jobs,lower gas prices, Catholics,Jews, and the overall economy.


6 posted on 03/09/2012 11:51:46 AM PST by Leep (Dueling tag lines=don't worry,you'll be a vegetable guy soon<>It's gonna be a Newt day!)
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To: 1rudeboy

Retarded idea. Says Adam Smith in “The Wealth of Nations”.


7 posted on 03/09/2012 11:55:26 AM PST by Drango (A liberal's compassion is limited only by the size of someone else's wallet.)
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To: Mr Ramsbotham

Its a great idea - let Obama Smoot-Hawley himself and the Ds into political oblivion...


8 posted on 03/09/2012 11:55:50 AM PST by achilles2000 ("I'll agree to save the whales as long as we can deport the liberals")
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To: 1rudeboy

I call bulls#@t on free trade! At the founding of our republic the federal govnment ran mostly off tarrif duties. It was understood the one of the main functions of government was to protect American business from unfair trade practices. Under this protection America became a leading industrial power. It is working for China as we speak.


9 posted on 03/09/2012 12:01:48 PM PST by WMarshal (Where is the next Sam Adams?)
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To: WMarshal

If state-managed economies are your thing, enjoy your Chevy Volt and those curly-cued lightbulbs.


10 posted on 03/09/2012 12:03:51 PM PST by 1rudeboy
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To: achilles2000
Its a great idea - let Obama Smoot-Hawley himself and the Ds into political oblivion...

The Chinese need lots of exports to maintain social stability. Let's hope the Obama doesn't lead the Chinese down the road the Japanese took in the 1930's.

11 posted on 03/09/2012 12:04:32 PM PST by PapaBear3625 (In a time of universal deceit, telling the truth is a revolutionary act. - George Orwell)
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To: WMarshal
Calling our trade relationship with China 'free trade' is a good example of Newspeak.

China Celebrates Outwitting Us
12 posted on 03/09/2012 12:11:28 PM PST by khelus
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To: khelus
The only people you see arguing that we have "free trade" with China here are the protectionists.

The free-traders certainly don't, because they understand the term.

13 posted on 03/09/2012 12:15:04 PM PST by 1rudeboy
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To: WMarshal
One last thing, it was definitely not "understood the one of the main functions of government was to protect American business from unfair trade practices."

The Founders saw tariffs as a way to raise revenue, and some of them such as Hamilton, (correctly) argued that they could be used to protect infant industries.

I don't know where the notion of "fairness" came from, but you can probably guess.

14 posted on 03/09/2012 12:18:37 PM PST by 1rudeboy
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To: 1rudeboy

On this issue I have to rely on people who I think are much more knowledgeable than I am. Can you give a synopsis on what you think are the pluses and minuses of this legislation?


15 posted on 03/09/2012 12:18:51 PM PST by Enterprise ("Those who can make you believe absurdities can make you commit atrocities." Voltaire)
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To: PapaBear3625

The Chosen One is cabable anything wonderously destructive.


16 posted on 03/09/2012 12:23:45 PM PST by achilles2000 ("I'll agree to save the whales as long as we can deport the liberals")
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To: Enterprise
In a nutshell, countervailing duties benefit producers at an additional cost to consumers. Take steel pipe, for example. The mill gets a higher margin, and the driller gets the shaft (har).

The larger problem is the notion that you can punish a country for artificially devaluing its currency using this method. The majority of evidence indicates that production simply moves from the target country to another low-wage country. So you are left in the same situation, if not worse . . . because you messed-up the chain.

17 posted on 03/09/2012 12:25:18 PM PST by 1rudeboy
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To: 1rudeboy
Yes! But it just isn't strong enough. I can hardly wait to see one as strong as Smoot Holly. Bring back mercantilism; that's what the US needs!

(SARC)

18 posted on 03/09/2012 12:29:20 PM PST by celmak
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To: Drango

“Retarded idea. Says Adam Smith in “The Wealth of Nations”.”

Would that be the same “Wealth of Nations” that plans to steal all of the worlds gold and silver and enslave everyone with phony, fiat money???


19 posted on 03/09/2012 12:34:36 PM PST by know-the-law
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To: know-the-law
It's probably easier to enslave someone with gold, instead of fiat money. Just sayin'.
20 posted on 03/09/2012 12:38:53 PM PST by 1rudeboy
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To: 1rudeboy
The free-traders certainly don't, because they understand the term.

You mean terms like "Undocumented Workers?"

21 posted on 03/09/2012 1:08:40 PM PST by itsahoot (Tag lines are a waste of bandwidth.)
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To: 1rudeboy
If state-managed economies are your thing, enjoy your Chevy Volt and those curly-cued lightbulbs.

I'm thinking that it has a lot more appeal than our big business, big profit and Chinese managed economy

BTW, the Volt is pretty much history and those lightbulbs are likely made in China...

22 posted on 03/09/2012 1:23:41 PM PST by Iscool (You mess with me, you mess with the WHOLE trailerpark...)
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To: 1rudeboy

Well, that’s a relief.
I wonder if we’ll get some nice 6% GDP growth soon?
Double digit?


23 posted on 03/09/2012 1:36:30 PM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: 1rudeboy

It will be interesting to see if obama will sign this. He may not because it would cause a trade war at exactly the wrong time.(elections)


24 posted on 03/09/2012 1:43:35 PM PST by refermech
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To: 1rudeboy

Smoot-Hawley.... it didn’t work for them back then and it surely won’t work any better now. In fact, it may end up more devastating than last time.


25 posted on 03/09/2012 2:24:06 PM PST by RetiredTexasVet (There's a pill for just about everything ... except stupid!)
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To: Iscool
BTW, the Volt is pretty much history and those lightbulbs are likely made in China....

What are you saying? Our government can't manage the economy better than the people who actually operate in it?

26 posted on 03/09/2012 2:24:43 PM PST by 1rudeboy
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To: itsahoot

I would imagine most people understand the term, “undocumented worker,” even protectionists. I prefer “illegal alien.”


27 posted on 03/09/2012 2:26:12 PM PST by 1rudeboy
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To: 1rudeboy

Goooooood. China is dumping products, manufacturing them using techniques which are illegal in this country: labor, production and currency games.

This enabled our factories to shipped to China and elsewhere because we supposedly aren’t competitive. There is too much regulation but have China++ instutute even proper regulations and allow currency float. Then we’ll see who manufactures cheaper. Esply adding on rising fuel costs.


28 posted on 03/09/2012 2:56:40 PM PST by veracious
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To: 1rudeboy

Imposing tariffs is much easier than rolling back the taxes, regulation, and monetary policy that make us uncompetitive. Boob bait for the economic bubbas.


29 posted on 03/09/2012 3:40:50 PM PST by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
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To: 1rudeboy

Some one steal your screen name, I don’t recognize you.


30 posted on 03/09/2012 4:05:54 PM PST by itsahoot (Tag lines are a waste of bandwidth.)
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To: 1rudeboy

Thank you.


31 posted on 03/09/2012 4:11:27 PM PST by Enterprise ("Those who can make you believe absurdities can make you commit atrocities." Voltaire)
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To: itsahoot
So that was your ham-handed way of implying that free-traders (and me, specifically), don't understand the term "undocumented worker."

It would be laughable if your attempt wasn't so pathetic. "Free traders want illegal immigration. Dur."

32 posted on 03/09/2012 4:18:40 PM PST by 1rudeboy
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To: 1rudeboy
Reminds me of the idiot, don't remember her screen name off the top of my head, who insisted that if I was a free-trader, I HAD to be in favor of the free flow of labor across borders.
33 posted on 03/09/2012 5:11:09 PM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot
C'mon, it follows. /s
I don't want the government to arbitrarily decide how much I pay for my products, therefore I'm in favor of busing in Mexicans and giving them in-state tuition. Dur.
34 posted on 03/09/2012 5:19:27 PM PST by 1rudeboy
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To: refermech
[It will be interesting to see if obama will sign this. He may not because it would cause a trade war at exactly the wrong time.(elections)]

He will be tempted to sign at the prospect of another revenue stream.

35 posted on 03/09/2012 7:26:13 PM PST by Brad from Tennessee (A politician can't give you anything he hasn't first stolen from you.)
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To: 1rudeboy

Stupid. Why does it seem like the 30’s all over again?


36 posted on 03/09/2012 8:52:44 PM PST by 1010RD (First, Do No Harm)
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To: momincombatboots

While I agree there is much that can be done at home. If China is subsidizing their industry on top of already amazing cheap labor costs in comparison to American industry you must agree that is unfair and something must be done about it.


37 posted on 03/10/2012 8:55:13 AM PST by Almondjoy
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To: 1rudeboy

No it was my Ham Handed way of remembering you pimping ever open borders thread I was ever on.


38 posted on 03/10/2012 9:15:51 AM PST by itsahoot (Tag lines are a waste of bandwidth.)
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To: 1rudeboy

What do you call punitive tariffs against China?

“A good start”.


39 posted on 03/10/2012 9:16:48 AM PST by Cringing Negativism Network ("The door is open" PALIN 2012)
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To: 1010RD

In the 30’s, we led the world in exports.


40 posted on 03/10/2012 9:18:15 AM PST by Cringing Negativism Network ("The door is open" PALIN 2012)
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To: itsahoot

Define “pimping,” if you can. Let’s see how retarded you are—traumatic head injury, or genetic.


41 posted on 03/10/2012 3:54:14 PM PST by 1rudeboy
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To: Toddsterpatriot
I was bored, so I did an Advanced Google search using FR, and heritage+foundation+immigration+1rudeboy. I figured that if I was "pimping" anything, it was their website. Look what I found:

Immigration: Congressional Miscue Could Compromise Federal-State Cooperation, and
Moving Forward to Secure the Border .

42 posted on 03/10/2012 5:40:35 PM PST by 1rudeboy
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To: 1rudeboy

I recognize a pimp and their ho’s when they show up to defend them.


43 posted on 03/10/2012 7:12:05 PM PST by itsahoot (Tag lines are a waste of bandwidth, as are my comments.)
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To: 1rudeboy

Alex, I’ll take “What are both?” for $500.


44 posted on 03/10/2012 7:31:56 PM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Cringing Negativism Network

Then came the regulators and here we are. One interesting thing is that onerous regulation doesn’t destroy capitalism, but stifles innovation.


45 posted on 03/10/2012 9:18:19 PM PST by 1010RD (First, Do No Harm)
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To: Almondjoy

I would agree we can do something, but I insist we start by fixing our problem at home. It is simply un- American to do otherwise. If we make it less expensive to produce here, companies will produce here, it is as simple as that. I worked in a manufacturer who had pieces created in China and assembled here, the things lost in translation and transport time are still not enough to counter the costs of production here.. but they exist. By the time a piece arrives here and the color or specifications are incorrect, it is time- consuming headache. Bottom line costs are still the most pressing.


46 posted on 03/11/2012 5:15:10 AM PDT by momincombatboots (Back to West by G-d Virginia.)
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To: itsahoot
Nothing screams "I am butthurt because I lost an argument" more than dragging it to another thread (and falsely accusing someone of something they are not).

Frankly, you wouldn't recognize a pimp if he tried to sell you a woman for sex. That, or a few years later you'd accuse the mayor.

47 posted on 03/11/2012 5:23:42 AM PDT by 1rudeboy
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To: 1010RD
You merely have to get a permit to innovate (and purchase capital equipment from the original manufacturer who was forced out of the business). :)

Legal Incandescent Bulbs are Here.

48 posted on 03/11/2012 5:30:02 AM PDT by 1rudeboy
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To: 1rudeboy

Defending you Pimp is a sign of abuse, you should seek help.

Marr was a Mitt Pimp deluxe Friday and your yelling won’t change that.


49 posted on 03/11/2012 10:55:14 AM PDT by itsahoot (Tag lines are a waste of bandwidth, as are my comments.)
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To: itsahoot
I'm not yelling. I'm laughing. At you.

What induces someone to drag illegal immigration onto a thread about tariffs is anyone's guess. What induces you to accuse me of being an "open borders pimp" is clear: mental retardation.

So the voice you think you heard isn't mine and whatever voice you heard wasn't loud. It most likely came from your toaster.

50 posted on 03/11/2012 5:04:30 PM PDT by 1rudeboy
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