Thursday, July 27, 2023

A(nother) Case Study of Terrible U.S. Tariff Policy

Make no mistake, the U.S. is and has been a fairly protectionist country when it comes to foreign trade notwithstanding the e.g. NAFTA agreement.

"... The federal government is now considering one of the largest “trade remedy” (anti‐​dumping and countervailing duty) cases in recent years—one requested by the United Steelworkers union and Ohio‐​based steelmaker Cleveland Cliffs and targeting almost all imports (billions of dollars in total) of “tinplate” steel, which American companies use to make cans for food and other consumer staples. The Wall Street Journal deserves credit for covering and opining on the case, which is currently pending before the relevant government agencies, but misses some important details and context—points that turn the investigation and any resulting import duties into not merely another case of American protectionism but also a real case study of the absurdity of U.S. tariff policy today. ..."

A(nother) Case Study of Terrible U.S. Tariff Policy | Cato Institute New trade remedies would hurt steelworkers and American consumers.

No comments: