Word: tariffs
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...revocation of MFN status would mean a dramatic increase in tariffs on U.S. imports from China--the average trade weighted MFN duty applied to U.S. imports from China is 6 percent, without the MFN, trade weighted tariff rate would be 44 percent...
Since then, Toyota has Americanized itself at a rapid pace, which accelerated last year after a nasty trade dispute in which the Clinton Administration threatened to slap a 100% tariff on luxury cars like Toyota's Lexus. Shortly afterward, Toyota executives swooped into Indiana to pick a site for the T100 truck plant and sped up the timetable for the new West Virginia factory. Says senior vice president Jim Olson, a 16-year Ford veteran who joined Toyota in 1985: "It will now be very difficult for the Big Three to attack us as the enemy at the border...
...piracy of American computer software, films, music and other intellectual property. Rightful owners of the copyrights claim they are losing an estimated $2 billion a year. The U.S. has warned that if the Chinese government does not close the pirate factories, Washington will slap an extra $2 billion tariff on imported Chinese goods. Beijing is threatening to retaliate in kind, and there is worried talk about a trade war, though veterans of these negotiations predict a settlement before the deadline of June 17. Some high-profile Chinese government raids on the pirate plants are likely to take place before that...
...friction. Because of pressure from the U.S., Beijing believes, it lost its bid to host the 2000 Olympics, which went instead to Sydney, Australia. Washington has blocked China's membership in the World Trade Organization, which Beijing wants as a venue for reconciling trade disputes and obtaining more favorable tariff treatment. The U.S. has also explored a closer military relationship with India, against which China fought a war in 1962, and last year established full diplomatic relations with Vietnam, a traditional enemy that repulsed a Chinese invasion...
...book, Opening America's Market, Eckes argues that the protectionist U.S. grew much faster than free-trade Britain between 1871 and 1913, and that the post-World War II competitive position of the American economy weakened greatly after the 1968-72 period, when a U.S.-led round of sharp tariff cuts went into effect. Some students, though, think Eckes is reading into the statistics a cause-and-effect relationship that isn't there...