Word: tariff
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Dates: during 2000-2009
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Nearly a year ago, the Clinton Administration imposed a 100% tariff on the products these three businesses and hundreds of others like them import and sell. That's sort of like charging you $40,000 for a $20,000 Ford Taurus...
...whose company has dominated the global trade in bananas for a century, was in 1993 frustrated because European countries limited imports of his bananas. He complained to the U.S. government, which complained to the World Trade Organization (WTO), which authorized the U.S. government to retaliate by imposing a stiff tariff--in effect, a tax--on select European goods shipped to this country...
...which goods to attack? President Clinton could have slapped the 100% tariff on, say, Mercedes-Benz autos imported from Germany, fine wines from France, or elegant women's shoes from Italy. But that might have provoked retaliation by the Europeans against major American exports. So instead the President chose to punish smaller and less important European companies--companies that furnished bath products to Reinert, prints to Kaplan and batteries to Dove. In short, the Administration came down with a heavy foot on relatively powerless citizens. People who, like 99% of the population, contribute little or no money directly to politicians...