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 ...
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?
Double digit?
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.
Thank 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.
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