Breaking News

Other Countries Impose Higher Tariffs; How Should the U.S. Respond?

U.S. Commerce Secretary Wilbur Ross recently said that trade negotiations will continue even if newly imposed U.S. tariffs are in place. Then he added, “God knows, there are plenty of tariffs the EU has on us.” 
President Trump echoed that complaint in a recent tweet: “If we charge a country ZERO to sell their goods, and they charge us 25, 50 or even 100 percent to sell ours, it is UNFAIR and can no longer be tolerated. That is not Free or Fair Trade, it is Stupid Trade!” 
[Note: We don’t actually “charge a country” to sell their products in the U.S.; a tariff is a tax the U.S. government imposes on U.S. residents if they buy a foreign product.] 
Both men have a point. According to the World Trade Organization (WTO), the U.S. imposes, on average, lower tariffs than our closest trading partners. The WTO’s interactive map highlights the “simple average applied

Continue Reading....

Check Also

Trump's Right, China and the G-7 Countries Do Have Higher Tariffs

Facebook Twitter Google+ Pinterest LinkedIn Digg Del StumbleUpon E-mail Reddit Buffer Love ThisPresident Trump has …

Leave a Reply

Send this to a friend