Skip to comments.Congress approves punitive tariffs against China
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 ...
Not a good idea, in my opinion.
“Not a good idea, in my opinion.”
I vaguely remember the movie Rollover. Wonder if China will just cash out.
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.
In terms of unintended consequences, that might be the best outcome for us.
I keep forgetting Obama cares about American jobs,lower gas prices, Catholics,Jews, and the overall economy.
Retarded idea. Says Adam Smith in “The Wealth of Nations”.
Its a great idea - let Obama Smoot-Hawley himself and the Ds into political oblivion...
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.
If state-managed economies are your thing, enjoy your Chevy Volt and those curly-cued lightbulbs.
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.
The free-traders certainly don't, because they understand the term.
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.
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?
The Chosen One is cabable anything wonderously destructive.
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.
“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???
You mean terms like "Undocumented Workers?"
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...
Well, that’s a relief.
I wonder if we’ll get some nice 6% GDP growth soon?
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)
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.
What are you saying? Our government can't manage the economy better than the people who actually operate in it?
I would imagine most people understand the term, “undocumented worker,” even protectionists. I prefer “illegal alien.”
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.
Imposing tariffs is much easier than rolling back the taxes, regulation, and monetary policy that make us uncompetitive. Boob bait for the economic bubbas.
Some one steal your screen name, I don’t recognize you.
It would be laughable if your attempt wasn't so pathetic. "Free traders want illegal immigration. Dur."
He will be tempted to sign at the prospect of another revenue stream.
Stupid. Why does it seem like the 30’s all over again?
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.
No it was my Ham Handed way of remembering you pimping ever open borders thread I was ever on.
What do you call punitive tariffs against China?
“A good start”.
In the 30’s, we led the world in exports.
Define “pimping,” if you can. Let’s see how retarded you are—traumatic head injury, or genetic.
Immigration: Congressional Miscue Could Compromise Federal-State Cooperation, and
Moving Forward to Secure the Border .
I recognize a pimp and their ho’s when they show up to defend them.
Alex, I’ll take “What are both?” for $500.
Then came the regulators and here we are. One interesting thing is that onerous regulation doesn’t destroy capitalism, but stifles innovation.
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.
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.
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.
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.