If done properly a tariff system can work. We want to promote fair trade though and the other issue is nationalism. Not NAZI but a sense of pride and duty. Many other countries have dedicated citizens that choose to help keep their neighbors employed and themselves by buying things made in their country.
This is a sword without hilt or handgrip, all blade.
Japan is a great trading partner so why would we not help china be a great trading partner as well.
I don’t think that the motives of the Japanese government and the Chinese government are that same and I don’t believe any manner of hoping will make that happen. Two things that happens with China will never allow for actual free open and fair trade… Chinese requirement that any foreign company must partner with a Chinese company and depending on the technology, you must share it with the Chinese government… The capture of ideas and technology flows straight to Chinese government owned or partnered enterprise. While Japan may seeks collaboration amongst its industries, it allows for competition from foreign private enterprise…
Japan’s protectionism runs very deep in its political and economic system. The Japanese themselves certainly believe their economic success has been due to protectionism. No one in Japan of any standing in business, government, or academe believes that Japan’s success has been due to free trade.
An American car can easily reach twice its original cost, and possibly 300%. Add up shipping, import tax, and tons of other taxes depending on the city and the prices shoots up. Then there is Japan’s high tariffs on food imports, which include 30 percent on imported cheese, 10 percent on chocolate and 9 percent on canned tomatoes.
Our trade deficit with Japan is around 75 billion per year over the last 20 years . And our trade deficit with China over the last 10 years was about 300 billion per year .
Lol, ever seen what the price of an American car is in Japan. Funny that the TIC has never attacked them as he has done China, shrug.
NOT so fair so far !!!
U.S. Blames Japan For Dumping Steel !
The Clinton Administration moved closer today to imposing punitive tariffs against Japan, affirming that producers there have illegally priced steel in United States markets.
Tariffs of up to 67 percent on hot-rolled carbon steel would effectively make the widely used product from Japan more expensive. Already, there are signs of import reductions in anticipation of tariffs.
The Federal Government is considering similar tariffs against Brazil and Russia. A decision on Brazil has been delayed until July 6. A ruling on Russia is due on June 10, but that country may be able to avoid tariffs if its agreement to curb steel shipments to the United States is ratified by both countries.
U.S. imposes duties after finding seven producers dumped steel plate .
WASHINGTON (Reuters) - The U.S. Department of Commerce made a final finding that seven foreign producers dumped certain carbon and alloy steel cut-to-length plate in the U.S. market, allowing it to impose duties ranging from 3.62 percent to 148 percent, Commerce Secretary Wilbur Ross said on Thursday.
The determinations of dumping, or selling a product below its fair price, apply to imports of CTL plate from Austria, Belgium, France, Germany, Italy, Japan, South Korea and Taiwan, Ross said.
In addition, there was a final finding that South Korean imports were subsidized, leading to a countervailing duty of 4.31 percent being slapped on those products, he said at a department event.
“A healthy steel industry is critical to our economy and manufacturing base, yet our steel industry today is under assault from foreign producers that dump and subsidize their exports,” Ross told the audience.
In 2015, imports of CTL plate from the seven producers totaled $732 million, with those from Austria, Belgium, France, Germany, Italy, Japan, Korea and Taiwan valued at an estimated $14.2 million, $19.8 million, $179 million, $196.2 million, $37 million, $54.9 million, $210 million and $21 million, respectively, department figures show.
Yes! Nationalistic! I do not disagree with it either. Like I said, fair! FAIR! Trade not free.
Japan and America have economies that are very intertwined. Do not think for a moment that companies in the US are not profiting from it.
So once again you lack FACTS !!! shrug
WASHINGTON – U.S. President Donald Trump on Monday said Japan was engaging in unfair practices on auto imports and exports, a topic that could come up when he meets Japanese Prime Minister Shinzo Abe as early as February. shrug ,quack , quack , SHRUG !!!
Yes and the issue is not other countries it is the US and US citizens.
In fairness you were the first one to post after the op and brought Japan into it, I think approximately so. And apparently Trump has now criticized Japans trade practices too.
We know companies are profiting from free trade . The same is not true for working Americans !
Apparently that is subjective. This right wing think tank says differently.
Free trade, however, is good for America, and for a very simple reason: It allows American workers to specialize in goods and services that they produce more efficiently than the rest of the world and then to exchange them for goods and services that other countries produce at higher quality and lower cost.
Exactly and I believe we need to clean up the mess within as much as the mess without! Simply put, American citizens need to put their feet down, demand that entitlements are cut and then the illegals go! The cheap lazy attitude needs fixed before we can get the tariff system moving.
The truth is working class Americans got fucked ! The truth is one percent got rich by fucking the American working class !
My New Year’s celebrations this year were haunted by memories of January 1, 1994 — the day that the North American Free Trade Agreement (NAFTA) went into effect. I remember crying that day, thinking about the proud men and women in union halls across America, the Mexican campesinos and the inspiring Canadian activists I had met during the fight against NAFTA, and hoping desperately that our dire predictions would be proved wrong.
The study makes for a blood-boiling read. For instance, we track the specific promises made by U.S. corporations like GE, Chrysler and Caterpillar to create specific numbers of American jobs if NAFTA was approved, and reveal government data showing that instead, they fired U.S. workers and moved operations to Mexico.
The data also show how post-NAFTA trade and investment trends have contributed to middle-class pay cuts, which in turn contributed to growing income inequality; how since NAFTA, U.S. trade deficit growth with Mexico and Canada has been 45 percent higher than with countries not party to a U.S. Free Trade Agreement, and how U.S. manufacturing exports to Canada and Mexico have grown at less than half the pre-NAFTA rate.
Such outcomes include a staggering $181 billion U.S. trade deficit with NAFTA partners Mexico and Canada and the related loss of 1 million net U.S. jobs under NAFTA, growing income inequality, displacement of more than one million Mexican campesino farmers and a doubling of desperate immigration from Mexico, and more than $360 million paid to corporations after “investor-state” tribunal attacks on, and rollbacks of, domestic public interest policies.
David Autor, David Dorn, and Gordon Hanson that found that the recent surge in Chinese imports to the United States has inflicted pronounced harms on the wages and labor-force participation of U.S. workers in local markets (e.g., mill towns) that face direct competition with those imports.
China in the past few decades has emerged as the world’s largest exporter and the United States’ second-largest trading partner after Canada. Despite being a relatively poor developing country, China has built up the largest trade surpluses in human history, creating economic problems for the United States. Trade with China has led to the loss of American manufacturing jobs, reduced real wages for semiskilled workers, and devastated some communities dependent on low-end manufacturing jobs. These negative effects have naturally given rise to protectionist sentiments in the U.S. presidential campaign and given trade in general a bad name.
Economists generally agree that trade between the United States and China has had negative effects on U.S. manufacturing employment, though estimates of the impact vary. What is not in dispute is that U.S. manufacturing employment declined sharply in the 2000s, dropping from 17 million in 2000 to 11 million in 2010. Some have estimated that China’s reform and opening up explained 25 percent of the decline in American manufacturing jobs between 1991 and 2007, and 40 percent of the loss after 2000. Others emphasize that the U.S. trade deficit was already large in 2000, and that trade accounted for little of the job loss in the 2000s. However, most agree that if the U.S. trade deficit were eliminated completely—a big “if”—then U.S. manufacturing employment would be 25 percent higher (3 million more jobs on the current base).
Man you paint a very wicked nation indeed.
Hogwash… we were told that we were going to be the worlds service economy… problem is, we sold them one copy of our software and they now replicate it throughout their countries… The US economy has been reduced to banking services, burger flippers and some strange application of medical health services (and their associated financial, billing and insurance services.)
Do you always trust your neighbors implicitly? Can you bank on them coming to your rescue without question? … if the answer is anything other than an emphatic ‘yes’, then you are placing far to much trust in them for your long term survival… especially if the have an army at their disposal.
I take it you voted for the independent that wouldn’t have given us NAFTA??
Trump had some strong words about NAFTA… did you vote for him… or wasn’t he open borders enough for you?
I voted for PEROT!
Yeah we did add jobs as proponents of NAFTA will point out but those were in spite of NAFTA not due to it.