Word: tariffs
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...make Southeast Asian markets more competitive in the globalized economy, the organization sought to reduce regional tariff barriers, recently dropping tariffs among the six original signatory nations by 5 percent...
...reforms. A Shanghai-based executive for a European sporting-goods company dismisses the notion that China's entry into the World Trade Organization (WTO) will eliminate trade barriers. Even after the WTO agreement kicks in, his company will still have to pay an amount double the current national import tariff to ship his sneakers from Shanghai to the central city of Chongqing, because of protectionist fees imposed by provincial governments. Earlier this year, a U.S. automaker discovered that sending a sedan from Shanghai to northern Ningxia province is more expensive than shipping it from Detroit to Shanghai because truckers have...
...struggling economies—a seemingly benevolent function—but conditions those loans on economic reforms that often have damaging effects. For example, loans sometimes call for decreases in government spending, which results in cuts to social services, for wage cuts in order to reduce inflation, for liberalized tariff restrictions to encourage foreign investment, for currency devaluation and for industry privatization and deregulation...
...Russia trade relations are wobbling on a greasy pair of "Bush legs"--that's what the Russians call the chicken drumsticks that have been a popular U.S. product in Russia since the first Bush Administration. As the White House moved toward imposing tariffs on foreign steel in early March, Russia revoked licenses to import U.S. poultry and made the ban effective March 10. Its official beef? Antibiotics and additives used by U.S. poultry farmers may be O.K. for Americans but are too foul for Russians. More likely, the blow to the U.S. poultry industry's $600 million annual sales...
...cover story, Daren Fonda argues that imposing tariffs on imported steel would dramatically increase domestic steel prices and cost thousands of U.S. jobs in steel-using sectors. Unfortunately, the article cites only studies funded by groups opposing the tariff, including foreign steel-mill interests. Many prominent economists, including Robert Blecker of American University, believe that a strong tariff will not result in significant price increases or any job losses. Without an adequate tariff, Blecker argues, the U.S. economy stands to lose more than 300,000 jobs. The President should not bow to the pressures of foreign importers who are profiting...