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Keyword: tariffs

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  • Free Trade Illusions: Why Free trade should not be a sacred doctrine among conservatives.

    09/29/2015 7:13:39 AM PDT · by SeekAndFind · 52 replies
    American Thinker ^ | 09/29/2015 | Norman Rogers
    Free trade is supported by enlightened thinkers and academic economists.  Those who are opposed to free trade are seen as special interests trying to shelter uneconomic industries that can’t stand up to foreign competition.  It is a truism that no trade transactions would take place if they weren’t to the advantage of both parties.  What could possibly be wrong with trade that is advantageous to both parties? If free trade is so wonderful, one has to wonder why many of our trading partners are resistant to it.  Perhaps these countries are just behind the times.  They may not have...
  • Donald Trump: America Needs Fair Trade, Not Free Trade

    09/27/2015 8:42:57 PM PDT · by Red Steel · 103 replies
    Breitbart ^ | 27 Sep 2015 | Alex Swoyer
    Claims that trade deals increase exports and create jobs are based on flawed trade models, and on distorted and one-sided interpretations of the findings of those models, Scott explained. If youre president, youre going to have to live with it, Pelley said to the billionaire businessman during the interview, referencing NAFTA. Trump fired back: Excuse me, we will either renegotiate it or we will break it. Because, you know, every agreement has an end. Pelley said Trump cant just break the law. Excuse me, every agreement has an end. Every agreement has to be fair, Trump reiterated. Every agreement has...
  • [Vanity] Trump manhandles SeeBS and Scott Pelley [On now West Coast 7pm]

    09/27/2015 5:22:06 PM PDT · by re_nortex · 232 replies
    CBS 60 Minutes ^ | 9/27/2015 | Video at link
    Donald Trump is firing salvo after salvo tonight on 60 Minutes. He's winning the arguments in a hostile, communist environment. The unhinged far-left interviewer, Scott Pelley, may have been born in Texas but he's not a true Texan because he rejected the Conservative Christian (and Jewish) values of the Lone Star state. Since Pelley (like Dan Rather, Walter KKKronkite and Egbert R. Murrow) is a limp-wristed metrosexual who hates America, it's great to see him getting TRUMPED! Go Trump go! Attack! Attack! Attack!
  • Trump catches attention of CFR, Bilderberg, Trilateral

    08/25/2015 6:46:47 PM PDT · by dontreadthis · 67 replies
    jon rappoport blog ^ | August 24, 2015 | Jon Rappoport
    The powerful Globalist players at the Council on Foreign Relations, the Bilderberg Group, and the Trilateral Commission are certainly watching the presidential campaign of Donald Trump. Trump has already made statements about immigration they find troubling. They may or may not be taking Trumps presidential run seriously. They may or may not view him as an inconsequential blowhard, a shoot-from-the-hip cowboy who forgets today what he said yesterdaybut today the New York Times has made reference to Trump in a way that will make these Globalist heavy hitters pause and blink while drinking their morning coffee (Here in As Stock...
  • Donald Trumps fairy tale economics is bad for his party and terrible for America

    07/30/2015 3:46:16 AM PDT · by 2ndDivisionVet · 54 replies
    London's City A.M. ^ | July 28, 2015 | Ryan Bourne, head of public policy at the Institute of Economic Affairs.
    The Republican Party must be tearing its hair out. For years, visitors from the US have extolled the strength of the partys potential Presidential candidates for 2016. The pack is certainly more impressive than in 2012 and, with the exception of one or two candidates, they are ostensibly advocates of relatively free market policies. In a campaign against an unlikeable Hillary Clinton, many conservatives were quietly confident of victory in 2016. But all these voices are being drowned out by the brash businessman and property magnate Donald Trump. Despite widespread criticism for his remarks about rapist illegal Mexican immigrants, Trump...
  • A Reaganesque solution to the Ex-Im Bank dilemma

    05/27/2015 8:45:30 PM PDT · by Tolerance Sucks Rocks · 5 replies
    The Washington Times ^ | May 26, 2015 | John R. Bolton
    Opposition to the U.S. Export-Import Bank (Ex-Im) is now at the point where the banks reauthorization is genuinely in doubt. Spurred by accusations of corporate welfare, crony capitalism and outright corruption, opponents believe the Ex-Im Banks palpable violation of free-market principles fully warrants its early demise. The Ex-Im Banks critics have their economics entirely correct, but they have their geopolitics wrong. Their solution simply terminating the bank is appealing but counterproductive. What America should do, under a president with the wit to do it, is negotiate the global elimination of export credits (as these subsidies are generically known)....
  • US to allow Mexican trucks in with screening

    01/09/2015 5:55:04 PM PST · by Olog-hai · 46 replies
    Associated Press ^ | Jan 9, 2015 7:37 PM EST
    The U.S. Department of Transportation says it will soon allow Mexican trucking firms to apply for authorization to make long-haul cross-border runs, potentially ending a longstanding dispute. It says it expects the move to permanently end Mexicos on-again, off-again retaliatory tariffs on $2 billion in U.S. imports. [] The opening is a long-delayed provision of the 1994 North American Free Trade Agreement.
  • As Bad As ObamaCare Is, Hawley-Smoot Tariff Act Was Worse

    06/16/2014 6:30:30 AM PDT · by SeekAndFind · 6 replies
    IBD ^ | 06/16/2014 | By BURTON A. ABRAMS
    Tuesday marks the anniversary of one of the most destructive pieces of legislation in U.S. history: the Hawley-Smoot Tariff Act of 1930, which triggered a disastrous trade war, intensified the Great Depression and helped set the stage for World War II. Unfortunately, as the Affordable Care Act and Dodd-Frank Wall Street Reform and Consumer Protection Act demonstrate, Washington continues its long-held tradition of passing ill-conceived legislation. The Affordable Care Act and Dodd-Frank, both passed in 2010, clearly have hurt the U.S. economy: increasing business costs, slowing hiring, adding to the uncertainty that investors face. But Hawley-Smoot arguably was worse. The...
  • Lincoln's Tariff War

    12/30/2013 5:18:21 PM PST · by dontreadthis · 83 replies
    Mises Daily ^ | May 06, 2002 | Thomas J. DiLorenzo
    When Charles Adams published his book For Good and Evil, a world history of taxation, the most controversial chapter by far was the one on whether or not tariffs caused the American War between the States. That chapter generated so much discussion and debate that Adams's publisher urged him to turn it into an entire book, in the form of When in the Course of Human Events: Arguing the Case for Southern Secession. Many of the reviewers of this second book, so confident were they that slavery was the one and only possible reason for both Abraham Lincolns election to...
  • EU brewers want unfair beer tax removed through TTIP (free trade agreement w/US)

    12/09/2013 1:01:59 AM PST · by Olog-hai
    EurActiv ^ | 09 December 2013
    European brewers last week (4 December) urged EU negotiators to put a removal of taxes on European brewers, from which their American competitors are exempt, on the table in the free-trade negotiations with the US. In the EU, small brewers have a reduced excise tax rate. This tax rate also applies to small US brewers importing to the EU, whereas the equivalent small brewer tax relief in the US only applies to domestically-produced beer. This puts EU brewers exporting to the US at an important disadvantage, Brigid Simmonds, chief executive of the British Beer and Pub Association, said at a...
  • Free Money Math vs. 100% Gold Backed Dollar

    11/28/2013 7:36:55 AM PST · by Kaslin · 24 replies ^ | November 28, 2013 | Mike Shedlock
    In the wake of all the misguided pleas for negative interest rates in Europe (hoping to get banks to lend), comes news US banks warn Fed interest cut could force them to charge depositors. Leading US banks have warned that they could start charging companies and consumers for deposits if the US Federal Reserve cuts the interest it pays on bank reserves. Depositors already have to cope with near-zero interest rates, but paying just to leave money in the bank would be highly unusual and unwelcome for companies and households. The warning by bank executives highlights the dangers of one...
  • Americas protectionist policies send production and jobs overseas and damage the US economy

    10/23/2013 4:54:55 PM PDT · by BfloGuy · 9 replies
    American Enterprise Institute ^ | 10/21/13 | Mark J. Perry
    America’s long-standing protectionist farm policies protect inefficient domestic sugar beet growers from more efficient foreign competition, which have driven up average wholesale sugar prices in the US to twice the world price: 29 cents per pound on average in the US vs. 14.6 cents in the world market since 1982 (see chart above, data here). And as a result, US manufacturers of products with high sugar content have increasingly moved their production overseas to avoid America’s artificially high sugar prices and take advantage of the lower world price for their main input.Predictably, our protectionist trade and agricultural policies reap generous...
  • FORGET THE INDOCTRINATION: Hitler and Mussolini were "progressives" and men of the left

    02/17/2013 10:33:22 PM PST · by 2ndDivisionVet · 40 replies
    Doug Ross @ Journal ^ | February 17, 2013 | Doug Ross
    Daniel Hannan cuts through the disinformation routinely spewed by the pundit class to reveal the true historical nature of fascism, albeit as it pertains to British politics. The lessons, however, are applicable here as well. 'I am a Socialist,' Hitler told Otto Strasser in 1930, 'and a very different kind of Socialist from your rich friend, Count Reventlow'. No one at the time would have regarded it as a controversial statement. The Nazis could hardly have been more open in their socialism, describing themselves with the same terminology as our own SWP: National Socialist German Workers' Party. Almost everyone in...
  • Ford takes the road from Flanders to Valencia

    10/26/2012 12:39:51 AM PDT · by bruinbirdman · 20 replies
    The shutdown of the Genk plant announced by the American manufacturer has sent shock waves through Belgium. But in Valencia, Spain, where the production is moving to, Ford is looking forward to the competitive advantage the region offers. Ford employees blocking the entrance to the US car manufacturers Genk plant, October 24, 2012 The October 24 announcement that Fords plant in Genk will down tools in 2014 has provoked a wave of anger in the Flemish press. More than 10,000 jobs in the plant itself and in its sub-contractors will disappear. In Gazet van Antwerpen, columnist Paul Geudens rails against...
  • Obama admin slaps tariff on solar panels from China because of government subsidies

    03/21/2012 6:44:12 AM PDT · by SeekAndFind · 13 replies
    Hotair ^ | 03/21/2012 | Ed Morrissey
    Yes, you read that correctly. Three years after committing tens of billions of dollars in subsidies to green-energy firms, including massive amounts of subsidies to solar-panel firms like Solyndra, the Obama administration proclaims themselves shocked, shocked! that China subsidizes the production of solar panels in their own country:CLICK ABOVE LINK FOR THE VIDEO The U.S. Commerce Department announced tariffs on Chinese-made solar panels on Tuesday that it said had benefited from unfair subsidies by Beijing.The preliminary ruling came in response to a complaint from SolarWorld Industries America, a U.S. manufacturer that is a subsidiary of Germany’s SolarWorld. The tariffs were...
  • U.S. to Place Tariffs on Solar Panels From China

    03/20/2012 1:47:35 PM PDT · by Oldeconomybuyer · 12 replies
    New York Times ^ | March 20, 2012 | By KEITH BRADSHER and MATTHEW L. WALD
    The United States Commerce Department said Tuesday it would impose tariffs on solar panels imported from China after concluding that the Chinese government provided illegal export subsidies to manufacturers there. The tariffs were smaller than some American industry executives had hoped for 2.9 percent to 4.73 percent which could blunt their effect on the market. But whatever the size of the penalties, Tuesdays ruling is likely to further heighten trade tensions with China, while holding implications for renewable energy policy in this country.
  • Congress approves punitive tariffs against China

    03/09/2012 11:37:47 AM PST · by 1rudeboy · 52 replies · 1+ views
    AP ^ | March 9, 2012 | Jim Abrams
    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...
  • Sugar Tariffs Cost Americans $3.86 Billion in 2011

    01/28/2012 4:40:52 PM PST · by BfloGuy · 52 replies
    Carpe Diem ^ | Jan. 28, 2012 | Mark Perry
    The chart above displays annual refined sugar prices (cents per pound) using data from the USDA (Tables 2 and 5) between 1982 and 2011 for: a) the U.S. wholesale refined sugar price at Midwest markets, and b) the world refined sugar price. Due to import quota restrictions that strictly limit the amount of imported sugar coming into the U.S. at the world price, the domestic producers are protected from more efficient foreign sugar growers who can produce cane sugar in Central America, Africa and the Caribbean at half the cost of beet sugar in Minnesota and Michigan. Of course,...
  • China Gets Revenge On Obama With Tariff On U.S. Autos

    12/16/2011 7:33:02 AM PST · by Qbert · 12 replies · 1+ views
    Forbes ^ | 12/15/2011 | Kenneth Rapoza
    President Barack Obama hit China automobile tire makers with a trade tariff in 2009 and now Beijing has struck back with a potentially more punitive tariff, as much as a 21% tax hike on U.S. car exports bound for China, the worlds largest auto market. This week, the Chinese government upped the ante in the Obama-China trade dispute by surprisingly imposing new tariffs on imports of Honda and Cadillac models, Chrysler Jeep Grand Cherokee, the BMW X5 and X3 and Mercedes Benz models made in Michigan, Alabama and South Carolina. China argues that the U.S. provided illegal subsidies to these...
  • Romney's Threat to China

    10/27/2011 6:21:37 AM PDT · by Kaslin · 14 replies ^ | October 27, 2011 | Jeff Jacoby
    In his 2010 book "No Apology," Mitt Romney has a lot to say about China, much of it unfavorable. He writes of Beijing's "brutal repression and incarceration of dissidents." He decries the brazenness of Chinese enterprise, with its "rampant theft of intellectual property from Western businesses." He warns that China's "aggressive pursuit" of cyber-warfare capabilities has made it "the most active cyber-combatant in the world." He details the ominous Chinese military buildup in combat aircraft, submarines, and ballistic missiles. He laments the communist government's willingness to shield the odious regimes in Iran and Sudan from international sanction. Nevertheless, Romney's criticism...
  • Free Trade and the Steel Industry

    10/09/2011 1:37:52 PM PDT · by Toddsterpatriot · 164 replies
    YouTube ^ | 1978 | Milton Friedman
    Milton Friedman shows the stupidity of tariffs.
  • How Capital Crushed Labor

    09/05/2011 9:49:48 PM PDT · by Bratch · 106 replies
    Townhall ^ | 9/6/2011 | Pat Buchanan
    Once, it was a Labor Day tradition for Democrats to go to Cadillac Square in Detroit to launch their campaigns in that forge and furnace of American democracy, the greatest industrial center on earth. Democrats may still honor the tradition. But Detroit is not what she was, not remotely. And neither is America. Not so long ago, we made all the shoes and clothes we wore, the motorcycles and cars we drove, the radios we listened to, the TV sets we watched, the home and office calculators and computers we used. No more. Much of what we buy is no...
  • Create jobs by ending Bush & Obama's "appeasement" trade policy ("President Palin")

    06/13/2011 12:57:31 AM PDT · by 2ndDivisionVet · 25 replies
    Richman's Trade and Tax Blog ^ | June 12, 2011 | Howard Richman
    President Obama's stimulus has failed, just as we predicted. Federal Reserve Chairman Bernanke's QE2 has failed, just as we predicted. The administration and the Federal Reserve have run out of ideas. There is still a solution, but Washington is ignoring it. University of Maryland economist Peter Morici sums it up in a June 9 commentary (Cut Trade Gap to Create Jobs). Here is a selection: The trade deficit, along with the credit and housing bubbles, were the principal causes of the Great Recession. A rising trade deficit again threatens to sink the recovery and push unemployment to more than 10...
  • Fair Trade Revealed As Just a Feel-Good Hoax

    05/16/2011 4:50:55 AM PDT · by SeekAndFind · 5 replies
    Kids Prefer Cheese ^ | 05/15/2011 | Mungowitz
    I have for some time been a basher and hater of "Fair Trade," in coffee and other commodities. In fact, as far as I'm concerned, Russ Roberts and I podcastrated the whole issue nearly four years ago. Sarah Marchmont wrote a very fair-minded article about it. Here is the basic economics--a rent is being created: a price above market price is being charged. In countries where property rights, contracts, and rule of law is tenuous, feel-gooders and scam artists have put together an unholy coalition. The feel-gooders create something called "Fair Trade" certification, which means that the farmers get...
  • TARIFFS NOW: Bring Back American Jobs

    02/08/2011 3:14:32 AM PST · by Cringing Negativism Network · 53 replies · 1+ views
    Just a friendly reminder: Americans increasingly don't make things. Any things! Another friendly reminder: Americans increasingly only buy things. A sad reminder: Every single thing we buy, is made elsewhere...
  • Not Really 'Made in China' [TRADE DEFICITS DON'T MATTER]

    12/17/2010 3:35:41 AM PST · by expat_panama · 142 replies
    Wall Street Journal ^ | DECEMBER 15, 2010 | ANDREW BATSON
    [snip] "A distorted picture" is the result, they say, one that exaggerates trade imbalances between nations. Trade statistics in both countries consider the iPhone a Chinese export to the U.S., even though it is entirely designed and owned by a U.S. company, and is made largely of parts produced in several Asian and European countries. China's contribution is the last stepassembling and shipping the phones. So the entire $178.96 estimated wholesale cost of the shipped phone is credited to China, even though the value of the work performed by the Chinese workers at Hon Hai Precision Industry Co. accounts for...
  • Thomas Sowell: Brass Oldies: Part II (Government creating jobs)

    10/26/2010 10:12:35 AM PDT · by jazusamo · 10 replies · 1+ views
    Creators Syndicate ^ | October 26, 2010 | Thomas Sowell
    Songs that are "golden oldies" have much less pleasant counterparts in politics namely, ideas and policies that have failed disastrously in the past but still keep coming back to be advocated and imposed by government. Some people may think these ideas are as good as gold, but brass has often been mistaken for gold by people who don't look closely enough.One of these brass oldies is the idea that the government can and must reduce unemployment by "creating jobs." Some people point to the history of the Great Depression of the 1930s, when unemployment peaked at 25...
  • South Korea's kimchi crisis deepens

    10/16/2010 5:26:46 PM PDT · by bruinbirdman · 47 replies · 1+ views
    The Telegraph ^ | 10/15/2010 | Julian Ryall in Tokyo
    South Korea's kimchi crisis has deepened, after the president was forced to step in amid fears that cabbage rustlers were descending on farms to steal the key ingredient in the nation's national dish. Kimchi is a fiery side-dish of pickled cabbage President Lee Myung-bak has this week ordered the government to block the price of staple foodstuffs from rising above international levels after the price of cabbage, which is used to make the fiery dish, increased sharply. "There is no reason for people on low incomes to purchase items that are necessary to daily life at higher prices than international...
  • Paul Krugman: Slap Tariffs On China, And Let Them Stop Buying Our Debt

    09/14/2010 4:21:27 AM PDT · by SeekAndFind · 35 replies
    Business Insider ^ | 09/14/2010 | Joe Weisenthal
    In his latest NYT op-ed, Paul Krugman takes a break from worrying about the GOP and spending to return to another one of his big issues -- Chinese currency manipulation. Japan's leaders, he notes, have rightfully been concerned about Chinese debt buying, and the effect that has on pushing up the yen (thus killing exports), and he wonders why we can't get the same level of outrage here. Basically, there are two reasons why American leaders are too scared to slap a tariff on China and penalize them for this kind of manipulation. The first is that they're worried China...
  • Obama Did Create 3 Million Jobs -- in China

    09/06/2010 4:56:03 AM PDT · by Rashputin · 15 replies
    American Thinker ^ | Sept 6, 2010 | Raymond Richman, Howard Richman, and Jesse Richman
    According to Wikipedia, Stern makes frequent visits to the Obama White House. According to Dreyfus, he also makes frequent trips to China to visit with China's Communist-controlled All-China Federation of Trade Unions (ACFTU). Stern justifies his trips to China with the claim that he is helping push the ACFTU in a positive direction. Dreyfus writes: "I get in trouble on Glenn Beck saying, 'Workers of the world unite!' It's not just a slogan," Stern says. It's critical, he adds, for US and Chinese workers to see each other as allies, and he argues that efforts such as his can help...
  • MEXICAN TRUCKS: Murray Includes Language in Bill Urging Administration to Act

    07/26/2010 3:32:56 PM PDT · by mdittmar · 65 replies · 2+ views
    U.S. Senator Patty Murray (D-WA) ^ | July 26, 2010 | U.S. Senator Patty Murray (D-WA)
    Sets deadline of October 1, 2010 for Administration to act(Washington, D.C.) U.S. Senator Patty Murray (D-WA) included language in the Fiscal Year 2011 Transportation, Housing and Urban Development (THUD) Appropriations bill that calls on the Administration to put forward a plan that would end retaliatory tariffs on Washington state agricultural products by October 1, 2010. The bill passed the THUD subcommittee, which Murray chairs, as well as the full Appropriations committee, and will now head to the full Senate for consideration. I am extremely frustrated that the Administration has not yet acted while farmers across my home state of Washington...
  • Chinas Currency Manipulation Decried

    07/12/2010 9:29:11 AM PDT · by John Semmens · 2 replies
    A Semi-News/Semi-Satire from AzConservative ^ | 11 July 2010 | John Semmens
    The AFL-CIO is pressing Congress to take action against the Chinese Governments manipulation of the value of its currencythe renminbi also known as the yuan. Its bad enough that the Chinese work for lower wages than us, complained Richard Trumka, president of the AFL-CIO labor federation. But holding down the value of their currency so the US Dollar has a higher purchasing power is a double whammy. Senator Charles Schumer (D-NY) is sponsoring legislation in line with the AFL-CIOs complaint. Not only is the Chinese Government wantonly increasing the purchasing power of the American consumer, it is undermining the US...
  • How the right can court labor and fix the economy

    04/09/2010 9:06:42 AM PDT · by sfwarrior · 17 replies · 388+ views
    Worlnetdaily ^ | Aprili 8th, 2010 | Adam Sparks
    Look around at the merchandise at a Wal-Mart. Nearly everything is made in China with the sole exception of the label that says "Made in China"; that's made in America. Joking aside, America has lost its industrial base. Over the past four decades, nearly all our manufacturing has gone overseas. Steel is dead, electronics dead, manufacturing of every kind fallen victim to cheap imports. How can a nation survive if it doesn't make anything? Have we degenerated to such a point that we are now a dependent colony to imperial nations? We sell our trees to China and Japan so...
  • Tax move by Brazil risks US trade war

    03/08/2010 4:46:48 PM PST · by Hoodat · 8 replies · 156+ views
    Financial Times (London) ^ | March 8, 2010 | James Politi, & Jonathan Wheatley
    Brazil moved on Monday to raise tariffs on a wide range of American goods, potentially igniting a trade war with the US over cotton subsidies after eight years of litigation at the World Trade Organisation.The decision takes effect next month, starting a 30-day period during which US and Brazilian officials will attempt to negotiate a solution to the dispute.Gary Locke, US commerce secretary, and Michael Froman, deputy national security adviser for international economic affairs, are due to arrive in Brazil on Tuesday. The cotton dispute is expected to be raised in meetings with government officials.Under the Brazilian plan, duties would...
  • Not for Importation into the United States

    02/01/2010 3:06:26 PM PST · by papasmurf · 27 replies · 1,032+ views
    Self ^ | 2/1/2010 | papasmurf
    I am a Computer Hardware tech. I bought a computer display replacement part through eBay. I received the part today. The eBay listing said it was coming from Bkyln, NY, and the post mark confirms that. Here's the issue...It bears a label that says..."Not for Sale in, Use in, or Importation into the United States." I bought the same part number that was in the unit, which is the same as listed in the Dell Service Manual, with the slight exception of the Revision identifier, and it cross references back to the original revision identifier, as well.
  • Free Trade Doesn't Work: Why America Needs a Tariff

    01/31/2010 6:42:57 PM PST · by ianfletcher · 75 replies · 1,368+ views
    Free Trade Doesnt Work ^ | January 30, 2010 | Ian Fletcher
    This very readable book is aimed at both ordinary concerned citizens and people with a bit of sophistication about economics. It is a systematic examination of why free trade is slowly bleeding America's economy to death and what can be done about it. It explains in detail why the standard economic arguments free traders use all the time are false, and what kind of economic ideas well within the grasp of the average American justify protectionism instead. It examines the history and politics of free trade and explains how America came to adopt its present disastrous free trade...
  • China blasts U.S. duties ahead of Obama visit

    11/06/2009 4:21:03 PM PST · by FromLori · 3 replies · 292+ views
    Reuters ^ | 11/6/09
    China denounced as protectionist new U.S. anti-dumping duties on steel pipes on Friday and called for Washington's swift recognition that it is a market economy, a week before a visit by U.S. President Barack Obama. The United States on Thursday slapped preliminary anti-dumping duties ranging up to 99 percent on $2.63 billion in Chinese-made pipes used in the oil and gas industry, in the biggest U.S. trade action against China to date. The Commerce Department issued its preliminary decision a week before Obama heads to Asia on a trip that includes stops in Shanghai and Beijing. It follows counter-vailing duties...
  • Who's “Protected” by Tariffs?

    10/09/2009 11:40:13 AM PDT · by arthurus · 138+ views ^ | 1979 | Henry Hazlitt
    Since The Wealth of Nations appeared more than two centuries ago, the case for free trade has been stated thousands of times, but perhaps never with more direct simplicity and force than it was stated in that volume. In general Smith rested his case on one fundamental proposition: “In every country it always is and must be the interest of the great body of the people to buy whatever they want of those who sell it cheapest.” “The proposition is so very manifest,” Smith continued, “that it seems ridiculous to take any pains to prove it; nor could it ever...
  • Trade Wars and Protectionism are not Free Trade [Ron Paul]

    09/21/2009 9:57:06 PM PDT · by rabscuttle385 · 20 replies · 1,629+ views
    Two weeks ago, both the administration and the Fed announced with straight faces that the recession was over and the signs of economic recovery were clear. Then last week, the president made a stunning decision that signals the administrations determination to repeat the mistakes of the Great Depression. Much like the Smoot-Hawley Tariffs that set off a global trade war and effectively doomed us to ten more years of economic misery, Obamas decision to enact steep tariffs on Chinese imported tires could spark a trade war with the single most important trading partner we have. Not only does China manufacture...
  • Obama's Tariff on Chinese Tires, is a Tax for Americas Tire Purchasers.

    09/21/2009 7:58:19 AM PDT · by Shellybenoit · 32 replies · 811+ views
    Forbes/the lid ^ | 9/21/09 | The Lid
    Last week, the POTUS announced that it would impose a tariff of 35 percent on $1.8 billion of automobile tires imports from China, acting on a petition from one of his major constituencies, Big Labor (the United Steelworkers union). As you may expect china did not react pleasantly. Zhou Wenzhong, Chinas ambassador to the U.S., warned that President Barack Obamas decision to impose tariffs on Chinese tire imports may set a dangerous precedent as other industries ask for protection. Zhou said U.S. textile and steel producers may file similar so-called safeguard complaints against Chinese exporters, testing Obamas commitment to avoid...
  • Buy American Hurts Most Americans

    09/18/2009 9:09:18 AM PDT · by SeekAndFind · 146 replies · 2,894+ views
    Cato Institute ^ | 2009 | Daniel Ikenson
    Earlier today, Doug Bandow weighed in with some commentary on the problems that Buy American provisions are creating for both Canadian and American businesses. Let me reinforce his view that such rules are anachronistic and self-defeating with some thoughts from a forthcoming paper of mine about the incongruity between modern commercial reality and trade policies that have failed to keep pace. Even though President Obama implored, If you are considering buying a car, I hope it will be an American car, it is nearly impossible to determine objectively what makes an American car. The auto industry provides a famous example,...
  • China files WTO complaint on U.S. tire tariffs

    09/14/2009 11:24:16 AM PDT · by jazusamo · 19 replies · 791+ views
    The Washington Times ^ | September 14, 2009 | Joe McDonald AP
    BEIJING (AP) -- Beijing filed a World Trade Organization complaint Monday over new U.S. tariffs on Chinese tires, stepping up pressure on Washington in the latest in a series of trade disputes. The conflict is a potential irritant as Washington and Beijing prepare for a summit of the Group of 20 leading economies in Pittsburgh on Sept. 24-25 to discuss efforts to end the worst global downturn since the 1930s. The Chinese complaint to the WTO in Geneva triggers a 60-day WTO process in which the two sides are to try to resolve the dispute through negotiations. If that fails,...
  • Protectionism Exposed

    08/06/2009 5:32:10 AM PDT · by expat_panama · 3 replies · 211+ views
    Wall Street Journal ^ | AUGUST 5, 2009 | CHAD P. BOWN
    In May, the United States slapped new tariffs on steel pipe imports from China. In June, China imposed new barriers on U.S. and European Union exports of adipic acid, an industrial chemical used to make nylon and polyester resin. In July, the EU also decided to restrict imports of steel pipe from China. The important question now is, do these events foreshadow spiraling protectionism and tit-for-tat retaliation that threaten a global trade war? Or is trade policy always like this, and were just noticing more now, given the global slowdown and heightened fears of Smoot-Hawley-style protectionism? [snip]The count of newly...
  • U.S. to get tough on trade, labor infractions: Kirk

    07/15/2009 10:37:15 PM PDT · by Nachum · 13 replies · 545+ views
    Reuters ^ | 7/15/09 | Roberta Rampton
    PITTSBURGH (Reuters) - The U.S. government will get tough with governments that don't live up to trade deals, including those with substandard labor practices, U.S. Trade Representative Ron Kirk was set to announce on Thursday. The USTR and U.S. Labor and State departments will identify and investigate labor violations in countries with which it has free trade agreements and insist problems are fixed, instead of waiting for complaints to initiate enforcement, according to prepared remarks. "If they won't fix their labor problems, we will exercise our legal options," Kirk was set to say in a speech at a U.S. Steel...
  • Cap-and-Trade-War [carbon tariffs, too!] [Democrats start a trade war]

    06/27/2009 11:29:01 AM PDT · by rabscuttle385 · 28 replies · 1,139+ views
    National Review / CATO ^ | 2009-06-24 | Patrick J. Michaels & Sallie James
    Despite indications that much of President Obamas 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 dont adopt aggressive carbon restrictions of their own....
  • Cap and Trade War

    03/30/2009 3:37:26 PM PDT · by Delacon · 13 replies · 595+ views
    The Wall Street Journal ^ | MARCH 30, 2009
    Team Obama floats a carbon tariff. One of President Obama's applause lines is that his climate tax policies will create new green jobs "that can't be outsourced." But if that's true, why is his main energy adviser floating a new carbon tariff on imports? Welcome to the coming cap and trade war. AP Energy Secretary Steven Chu made the protectionist point during an underreported House hearing this month, when he said tariffs and other trade barriers could be used as a "weapon" to force countries like China and India into cutting their own CO2 emissions. "If other countries don't impose...
  • EDITORIAL: The Mexican-American War of 2009

    03/24/2009 1:54:47 AM PDT · by Scanian · 22 replies · 1,096+ views
    The Washington Times ^ | March 24, 2009 | Editorial
    Talk about shades of Smoot-Hawley, the 1930 tariff act that was designed to protect American jobs but, not too surprisingly, crippled industries relying on international trade when other nations retaliated. Production kept on plunging and unemployment kept on rising, extending the Depression. In today's extremely global economy, we shudder to think how much worse the consequences today might be. The Mexican trade war may just be getting revved up, thanks to the Obama administration and the Democrat-controlled Congress ending a Bush administration pilot program that allowed a limit of 97 Mexican long-haul truck drivers into the United States (whereas, under...
  • Protectionism in the Name of Global Warming Regulations

    03/19/2009 3:22:55 PM PDT · by Delacon · 28 replies · 465+ views
    The Heritage Foundation/ The Foundry ^ | March 19th, 2009 | Nick Loris
    Protectionism is always bad policy. But protectionism during an economic downturn, after taxes have already risen, and in addition to a massive $2 trillion tax on energy consumption is, well, not good.Yet that is exactly what Energy Secretary David Chu seems to be edging towards.In response to the notion that American companies will move overseas when CO2 is capped, Secretary Chu suggested that the U.S. simply levy a carbon tariff on imports.This is why Secretaries of Energy should stick with energy and not economic policy. This is why free-markets work and command and control economies do not.At any rate, the...
  • Mexico slaps tariffs on US products in dispute [McCain expresses regret]

    03/16/2009 3:54:30 PM PDT · by rabscuttle385 · 291 replies · 2,646+ views
    AFP ^ | 2009-03-16
    MEXICO CITY (AFP) Mexico on Monday said it would place tariffs on nearly 90 US products after Washington canceled a program that allowed some trucks from Mexico to operate in the United States. There is to be an "increase in customs duty on almost 90 industrial and agricultural products," Economy Minister Gerardo Ruiz Mateos said in a statement. Ruiz said the increase would represent some 2.4 billion dollars, but did not name the products. . . . . . The move drew a sharp rebuke from US Senator John McCain, who said he regretted Mexico's decision and also lashed...
  • A Sellout of Our Unemployed

    03/13/2009 11:47:51 AM PDT · by bimboeruption · 14 replies · 638+ views ^ | 3/13/9 | Patrick J. Buchanan
    By the choices we make we define ourselves. We reveal our biases and beliefs. And so, too, do our institutions. In writing the $789 billion stimulus bill, Congress revealed that, for all its "Buy American" blather, it does not truly put America first. It does not believe that 10 million jobless Americans, in the country their fathers built, should receive any preference in hiring 12 million to 20 million illegal aliens who broke into this country and owe her no loyalty, allegiance or love. Is this a slur on the patriotism of some of our congressmen? You betcha. What other...