Word: tariffs
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...this has occurred with a minimum of government planning. But that may have to change. An early sign of the complications ahead is the expected demise of external tariffs sheltering the auto pact, after last month's World Trade Organization interim ruling that they discriminated against Japanese and other automakers. While Ottawa ponders whether to appeal the ruling, doomsayers are predicting the end of the "sweetheart" tariff holiday that they claim has underwritten Great Lakes prosperity for the past three decades. But the tariff ruling is probably irrelevant...
...SALE CARIBBEAN TARIFF RELIEF...
Whether there is or not, Farley's much coveted tariff break comes at a cost. Eliminating duties on apparel from the Caribbean will run U.S. taxpayers at least $1 billion in lost revenue over five years--a figure that, by congressional rules, must be made up with cuts in other programs...
Fruit of the Loom's favorite trade bill has led to a rare split between Kentucky's two conservative Republican Senators. While McConnell is expected to support the tariff cut, his colleague Jim Bunning has no intention of backing the measure. Asks Bunning: "How many more jobs do we have to lose until we wake up and smell the Caribbean coffee...
...moratorium is another country's protectionism, and the U.S. is suspicious of Europe's actions. Tension between the U.S. and the E.U. was already running high this summer after Europe decided to continue a ban on hormone-raised U.S. beef and the U.S. hit back with a 100% tariff on some E.U. food exports. Coming in the midst of such a catfight, the GM ban looks like vengeance as much as prudence. What's more, if Europe is so worried about GM foods, why is it growing them? France produces its own small crop of GM corn and uses more...