Free Republic

A new tariff on tires produced in China could shift prices for inexpensive rubber into overdrive. "It changes the market for cheap tires," said Bruce Harrison, an automotive industry analyst at IHS Global Insight, a Boston-area economic forecasting firm. "We're going to see almost immediate price increases at the bottom end of the market." President Barack Obama announced last Friday the U.S. would levy steep tariffs on Chinese-manufactured tires in response to pressure from the United Steelworkers union, which represents workers at U.S. tire plants. The union argued cheap Chinese imports decrease U.S. tire production and create job losses. Retailers...

Trade: President Obama has fired the opening salvo in a trade war with China by slapping 35% tariffs on its tires. But besides giving China a kick, this protectionism will harm Americans across the economy.Sec. 421 of the 1974 Trade Act, intended to control surges in imports. But the markets paid attention. Global stock futures tumbled over the weekend. Asian markets dropped sharply Monday, fearing a wave of U.S. protectionism. China called the U.S. move "rampant protectionism" and vowed to investigate dumping charges against U.S. auto parts and chicken, two industries that have made inroads into the China market. The...

A full-blown trade row erupted between the US and China after Beijing accused Washington of “rampant protectionism” for imposing heavy duties on imported Chinese tyres and threatened action against imports of US poultry and vehicles. Trade relations between two of the world’s biggest economies deteriorated after Barack Obama, US president, signed an order late on Friday to impose a new duty of 35 per cent on Chinese tyre imports on top of an existing 4 per cent tariff. In his first big test on world trade since taking office in January, Mr Obama sided with America’s trade unions, which have...

A full-blown trade row erupted on Sunday night between the US and China after Beijing accused Washington of “rampant protectionism” for imposing heavy duties on imported Chinese tyres and threatened action against imports of US poultry and vehicles. Trade relations between two of the world’s biggest economies deteriorated after Barack Obama, US president, signed an order late on Friday to impose a new duty of 35 per cent on Chinese tyre imports on top of an existing 4 per cent tariff.

The White House leaked word late Friday evening that the U.S. will impose a 35% tariff on imported Chinese tires used by millions of low-income Americans. We wonder if President Obama understands the political forces he's unleashing with this blatant protectionism. Mr. Obama is setting a precedent in the tire case because he is applying a previously unused part of the trade law known as Section 421. This allows U.S. industries or unions to seek protection from "surges" of Chinese imports, with a lower burden of proof than normal antidumping or countervailing duty cases. President Bush nixed the four Section...

President Barack Obama on Friday slapped punitive tariffs on all car and light truck tires entering the United States from China in a decision that could anger the strategically important Asian powerhouse but placate union supporters important to his health care push at home. Obama had until Sept. 17 -- next week -- to accept, reject or modify a U.S. International Trade Commission ruling that a rising tide of Chinese tires into the U.S. hurts American producers. A powerful union, United Steelworkers, blames the increase for the loss of thousands of American jobs.

Obama decides to impose tariffs on Chinese tire imports for 3 years WASHINGTON (AP) -- President Barack Obama has decided to slap punitive tariffs on all car and light truck tires entering the United States from China. Obama had until Sept. 17 -- next week -- to accept, reject or modify a U.S. International Trade Commission ruling that a rising tide of Chinese tires into the U.S. hurts American producers. A powerful union, United Steelworkers, blames the increase for the loss of thousands of American jobs. The federal trade panel recommended a 55 percent tariff in the first year, 45...

"I'm befuddled. There are few moments in my life where I'm embarrassed to say I'm from Texas, this was one of them," U.S. Trade Representative and former Dallas Mayor Ron Kirk said. "I think that some of those that have been the most ungracious and discourteous five years from now will be embarrassed by their behavior. But right now, I guess the best we can do is be embarrassed for them."

Washington, D.C. (AHN) - The Senate Finance Committee on Monday revealed that President Barack Obama's nominee for U.S. Trade Representative, Ron Kirk, had failed to pay $10,000 in taxes over the span of three years beginning in 2005. The panel report comes after several other nominees faced controversy over tax issues. Kirk, a former Dallas mayor, failed to report as income $37,750 in honoraria collected for 16 speaking engagements at Austin College, his alma mater, for 2004, 2005, 2006 and 2007. He also deducted NBA Mavericks tickets worth $17,382 as entertainment expenses in 2006, 2006 and 2007, but has substantiated...

President Obama went to Guadalajara, Mexico, in August as part of his promise to "rejoin the world community" and become a "citizen of the world." He participated in a conference with Mexican President Felipe Calderon and Canadian Prime Minister Stephen Harper. These cozy meetings of the so-called three amigos used to be labeled the Security and Prosperity Partnership. The three North American heads of state met in Waco in 2005, in Cancun in 2006, in Quebec in 2007 and in New Orleans in 2008. After conservatives exposed the mischievous goals, the amigos accepted the Hudson Institute's helpful suggestion to change...

President Obama just finished a joint press conference with Canadian Prime Minister Stephen Harper and Mexican President Felipe Calderone in Mexico City following three way talks. Here are some highlights. Both President Obama and PM Harper renewed their support for the Mexican government in their war with the drug cartels. President Obama called the policy "courageous". He said that there were ways to defeat the cartels while respecting human rights but also emphasized that the biggest violators of human rights are the traffickers themselves. PM Harper commented that his country needed to tighten up their visa policies because entrance into...

GUADALAJARA, Mexico – President Barack Obama pressed for a new tone in the United States' relationship with Mexico but found no immediate progress Sunday on the divisions between him and Mexican President Felipe Calderon over the pace of U.S. drug-fighting aid and a ban on Mexican trucks north of the border. Obama kicked off his second trip to Mexico as president with a friendly 45-minute meeting with Calderon that touched on the vast trade relationship between their two countries, their cooperation on swine flu and the violent Mexican gangs dominating the drug trade on both sides of the border. Their...

Does anyone know which special interests were behind the trade policy with China which allowed many American manufacturers to move to China, taking millions of jobs away from our country? I would love to know the names of individuals, businesses and organizations who were behind this. Was it just the manufacturing base that pushed for this or was Wall Street involved in it too?

With President Obama expected tomorrow for the North American Leaders' Summit in Guadalajara, Mexico, a coalition of American legislators and activists took a message to the Mexican media, denouncing economic partnerships that would undermine national sovereignty and blasting Obama's failure to keep his promises on transparency and the renegotiation of the North American Free Trade Agreement. Howard Phillips, chairman of The Conservative Caucus and head of the Coalition to Block the North American Union, spoke to Mexican print, television and radio media about the summit, which was known in previous years as the North American Security and Prosperity Partnership, or...

After a "Buy American" provision in the stimulus bill triggered a tit-for-tat with Canada, President Obama is warning fellow Democrats to think twice about another "protectionist" measure in the House-passed climate change bill. The climate bill that passed the House last week on a 219-212 vote includes a provision to impose tariffs -- starting in 2020 -- on imports from countries that don't have a system for limiting global warming pollution. The provision was pushed as a way to keep the U.S. competitive with other countries that haven't imposed rules to reduce carbon emissions and promote clean energy.

Trade: President Obama's encouraging words to Colombia's president Monday signaled an improving outlook for the two nations' long-delayed free trade treaty. It's good news, but he must take that message to Congress.Contrary to what you might think from the administration's responses to Iran and Honduras, not all of our friends are being snubbed or our enemies embraced. Obama showed considerable respect for our friend and ally Colombia at a working meeting with President Alvaro Uribe at the White House Monday, declaring at a joint press conference that "we are grateful for his friendship." It was a commendable show of leadership,...

A day after strongly praising energy legislation passed by the House, President Obama on Sunday spoke out against a provision in the bill that would impose trade penalties on countries that do not accept global-warming pollution limits. At a time when much of the world is mired in recession, Mr. Obama said, “We have to be careful about sending any protectionist signals.” He said that certain energy-intensive American industries — like steel, aluminum, paper and glass — had legitimate concerns about competition from developing nations and that he would seek to level the playing field in international negotiations. But he...

Despite indications that much of President Obama’s agenda is meeting intra-party skepticism all over Capitol Hill, there is one policy nexus where congressional leaders are still doggedly determined to move the country left: energy and the environment. Speaker Pelosi will reportedly allow a vote on the controversial Waxman-Markey “cap-and-trade” legislation at the end of this week. And it gets even better. Not content to tempt political fate by imposing huge carbon taxes on the American middle class, Democrats have added a provision which imposes stiff tariffs on our trading partners if they don’t adopt aggressive carbon restrictions of their own....

Free Trade: With unemployment at 9.4% and worse on the way, there's no doubt the economy's hurting. If the White House and Congress are serious about ending job destruction, they must open up new markets.It's not easy to flip-flop on a campaign promise, but it's urgent for President Obama to push for free trade as a way to create new jobs — one of the few really effective ways of doing it. Obama's appointment of Ron Kirk as U.S. Trade Representative shows he's coming around. Kirk, a free-trader, has reached out to Korea, Colombia and Panama, allies who've been waiting...

WASHINGTON – Iran spent nearly twice as much on U.S. imports during President Barack Obama's first months in office as it did during the same period in 2008, showing that despite trade penalties and tense relations, the two countries are still doing business.