Posted on 08/08/2018 6:27:13 PM PDT by reaganaut1
Tariffs are taxes, which distort investment and limit growth. And like taxes, when tariffs are high they create a political incentive for exemptions and favoritism. Behold the Commerce Departments new and tortuous process for reviewing exemptions to steel and aluminum tariffs. This is everything Republicans typically claim to hate.
***
First, companies must submit a request attesting that their imports arent made in the U.S. in a satisfactory quality or sufficient and reasonably available amount. Companies must state the uses for their steel product, their average annual consumption of the product, as well as the number of days required to take delivery, manufacture and ship the product. They must also estimate the maximum and minimum composition of 24 chemical elements in their products including molybdenum, antimony and vanadium. There are dozens of other queries, but well spare you.
Oh, and a separate request is required for each width, length, grade shape, and form of steel or aluminum product. A single company, Primrose Alloys, has submitted more than 1,200 steel product requests, according to Commerces database. All 14 that have been reviewed so far were denied.
Businesses may also submit statements to support their requests, which naturally turn political. California Steel Industries writes that our workforce is made up of about 50 percent minorities and 20 percent U.S. veterans. We pay excellent wages and benefits (annual average above $100,000), plus profit-sharing that has averaged more than $7,000 annually over the past five years. We offer outstanding benefits, including an onsite Family Health Center staffed with excellent doctors and nurses. Is it trying to recruit employees or persuade the bureaucracy?
(Excerpt) Read more at wsj.com ...
They havent.
You can still buy from anyone from before, but you will pay some extra tax.
Stop LYING, REAGANUT!
Do you remember Toshibagate? Reagan tariffed Japanese goods.
You make me puke with your stupidity.
The price we pay for fighting back. China’s been raping us for years and we’ve done nothing.
“Tariffs are taxes, which distort investment and limit growth.”
Pure BS. Tariffs are tariffs and taxes are taxes, they’re definitely NOT the same.
Tariffs promote capitalism INSIDE the USA.
Taxes DON’T.
Duh.
Youve been raped for so long you are defending your rapists.
“Businesses may also submit statements to support their requests, which naturally turn political. California Steel Industries writes “
LOL
More BS and lying from WSJ
California steel industries is wholly owned subsidiary of Vale (Brazil) and JFE (Japan)
So great! I hope all kinds of bureaucratic red tape is put in front of them.
That’s what ALL the other countries do to us.
Meanwhile US Steel and other American steel producers can put American back to work and get this country running proper again.
“Youve been raped for so long you are defending your rapists.”
Lol!
The Tariff Act of 1789 was the first national source of revenue for the newly formed United States.
President Hoover signed the Smoot-Hawley Bill in June of 1930. Investments and GDP were declining steeply before Smoot-Hawley passed. GDP increased in 1934, while Smoot-Hawley was still in effect.
Not only was Hoover a Republican, but Smoot and Hawley were also Republicans. The onset of WWII wasn't the cause of the upturn, as the economy was reviving long before that.
More blast from the past (posted in 2011).
WTO helping China Loot Caterpillar
americanthinker.com ^ | 10/04/2010 | Howard Richman & Raymond Richman
"Why cant Caterpillar make a profit exporting mini-excavators to China? The answer is simple: China has a 30% tariff on all excavators. In fact it has a similar high tariff on just about every vehicle, be it a Ford car, a GMC truck, a Harley Davidson motorcycle, or a giant mining machine made by Bucyrus International.
I posted the following here in 2009 ("Debunking The 'Smoot-Hawley Caused The Great Depression' Myth").
See the increases in GDP from 1934 on (except for 1938 with consideration of spending increases).
Gross Domestic Product (ref. 1929 dollars in millions) Year GDP 1929 101,444 1930 91,513 1931 84,300 1932 70,682 1933 68,337 1934 74,609 1935 85,806 1936 95,798 1937 103,917 1938 96,670 1939 103,736 1940 112,961 1941 126,237 Source: National Bureau of Economic Research, NBER Series 08166.
Year | Unemployment rate |
---|---|
1923-29 |
3.3 |
1930 |
8.9 |
1931 |
15.9 |
1932 |
23.6 |
1933 |
24.9 |
1934 |
21.7 |
1935 |
20.1 |
1936 |
17.0 |
1937 |
14.3 |
1938 |
19.0 |
1939 |
17.2 |
1940 |
14.6 |
1941 |
9.9 |
1942 |
4.7 |
I’m completely fine with zero tariffs on countries that have zero tariffs on us. As long as they have tariffs on us (as well as other anti-competitive practices like currency manipulation and forced tech transfers), we darn well better have tariffs on them!
Your late letter reminds me of our Conversation on the constitutionality of the power in Congs. to impose a tariff for the encouragmt. of Manufactures; and of my promise to sketch the grounds of the confident opinion I had expressed that it was among the powers vested in that Body...The Constitution vests in Congress expressly "the power to lay & collect taxes duties imposts & excises;" and "the power to regulate trade"...2. The power has been understood and used by all commercial & manufacturing Nations as embracing the object of encouraging manufactures. It is believed that not a single exception can be named. 3. This has been particularly the case with G. B., whose commercial vocabulary is the parent of ours. A primary object of her commercial regulations is well known to have been the protection and encouragement of her manufactures.
It’s the “Not putting Americans to work” tax.
I didn’t want the government to make stupid trade deals but they did anyways. President Trump has said that he is using tariffs to make our trading partners drop their trade barriers and tariffs and get us to where we have reciprocal free and fair trade with our trading partners I thought the free traitors would love that but apparently I’m wrong. You free traitors should decide what you want because it is evidently not free and fair trade.
You are correct. Less fruits in TX than CA except around Austin.
Please tip your wait staff before you leave. ;-)
Baloney. Americans have benefited from lower prices and higher quality on goods we can import, such as clothes and electronics. It's things we can't import, such as education and health care, that have the most inflation..
Keep supporting the WSJ and other leftist "opinion" pieces or you will be part of the reason your real wish comes true....and it doesn't seem to be the one you stated.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.