What is the reason for President Obama imposes tariffs on Chinese tires?
The Obama administration will put steep import duties of 35% in the first year on Chinese passenger and light truck tires, responding to what the U.S. International Trade Commission determined to be a surge of Chinese tire exports that has rocked the domestic U.S. tire industry and displaced thousands of jobs, U.S. Trade Representative Ron Kirk announced Friday night. View Full Image Associated Press A Chinese worker moves large tires at an assembly line in Beijing, China, Friday, Sept. 11, 2009. China’s government responded quickly to the announcement, saying in a statement that it “strongly opposes” what it called “a serious act of trade protectionism.” China “reserves the right to make further response,” the Ministry of Commerce statement said. President Barack Obama campaigned for the presidency using tough trade rhetoric and appealing to union workers. He said he would renegotiate the North American Free Trade Agreement to incorporate stricter labor and environmental standards. An
From the quiet shadows of the White House, at around 10 pm on Friday night, came word that President Obama will impose prohibitive duties of 35% on imports of Chinese tires. Well, we at Cato and elsewhere have warned repeatedly of the dangerous consequences of this outcome (June 18, July 24, August 13, September 9, September 11). Former Cato colleague and coauthor Scott Lincicome has an excellent analysis on the ramifications right here. The good news is that we now have clarity about where the president stands on trade. The bad news is that his stance reflects his isolationist primary election campaign rhetoric and not the post-election messages of avoiding protectionism and repairing the damage done to America’s international credibility by unilateralist Bush administration policies. Short of armed hostilities or political subversion, no state action is more provocative than banning another’s products from entering your market. I guess this paper was too audaciously hopeful. We’re ch
WASHINGTON — 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. Sources: http://us.lrd.yahoo.com/_ylt=A0LEUGIq1qtKp4AB8AR0fNdF/SIG=12l45qigf/**http%3A//www.huffingtonpost.com/2009/09/11/obama-imposes-tariffs-on-_n_284271.
