Word: importantly
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Dates: during 2000-2009
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President George W. Bush has always portrayed himself as a proponent of free trade. The imposition of heavy tariffs on steel imports announced this week runs counter to his usual free trade stance—and is a mistake. The trade barrier, which levies an import tax of up to 30 percent, is reminiscent of the protectionism of America’s isolationist age just before the Great Depression, and it marks a regression in this nation’s attempt to form a new, open global economy. While economists and academics in the United States proclaim the benefits...
...This fact has informed all of Tom.com's decisions. Wang, the CEO, is a mainland-born former Goldman Sachs executive director with sterling credentials in Beijing and an expertise in closing deals on the mainland. He has already formed a joint venture with the China National Publications Import & Export Corp., which controls 90% of China's foreign publication trade, and is letting its government-assigned managers help him decide which magazines and books to take to market. Tom.com also has strong connections with China's sporting industrial complex, which could come in handy come the 2008 Olympics...
Slutskaya, of course, wasn't aware of the mathematical import of her Tosca program. A talented jumper, she was forced by nerves to scale back a planned triple-triple combination in the first minute of her program, and she fought valiantly to hold the landing on her double axel. Her performance was good enough for silver...
...also likely that import restraints would spark a wider trade war. U.S. imports of key steel products, such as hot-rolled sheet, actually declined from the end of 1998 through 2001, and under World Trade Organization rules, America's trading partners may be authorized to retaliate immediately if the U.S. imposes hefty tariffs or quotas. In a speech in London in December, Pascal Lamy, the European Union's chief trade negotiator, vowed that the E.U. would lodge a WTO complaint if the U.S. blocked steel imports...
Other critics point out that U.S. steel producers have enjoyed varying degrees of import protection for decades. If tariffs and quotas were a formula for success, U.S. mills should already be world beaters. Instead of investing in new equipment and improving worker efficiency, too many U.S. mills and their unions have used artificially high steel prices as an invitation to pocket more in profits, pay and benefits than their competitors abroad--or their customers at home--have done. "Between 1972 and 1981, when import controls were severe, steel wages rose 179% while productivity declined," Goodrich and Gary Hufbauer, also...