Proof that Obama’s tyre tariff didn’t “save” US jobs
By Timothy Cox
Monday, May 10, 2010
More evidence that Obama’s tariff on Chinese tyre imports (Sept 2009) did little more than precipitate reciprocal tariffs from Beijing. According to the latest figures, released by the US International Trade Commission, domestic production didn’t increase and no new jobs were created. Instead American companies simply looked elsewhere (Brazil, South Korea, Mexico) to source their tyres.
Washington needs to realise the stupidity of pandering to protectionist demands. There is no upside to this discriminatory policy: domestic workers are not protected; domestic consumers pay higher prices than they need to; and Chinese reprisals further harm US interests.
Trackback URL for this post:
Common sense on AIDS
NGOs in Afghanistan
Obama's protectionist tyre tariff