In a payoff to his Union buddies Obama has slapped a 35% tariff on Tires imported from China. Not in the market for tires? Then you will just get to pay the next time you buy a car. Cars come with four each and you will get to pay a couple of hundred dollars so that Obama can payoff his Union buddies.
In an article by James Pethokoukis, the economics writer for Reuters news service Pethokoukis describes that Obama’s actions run the risk of starting a trade war with China but at the very least will cost the average American Consumer. As Pethokoukis states:
“Not only does the move directly hurt U.S. consumers, but it will certainly encourage more domestic industries, such as steel and apparel, to look to Washington for help. Even more dangerous than copycat protectionism: by blaming China for economic woes here at home, Obama risks rekindling anti-China efforts in Congress, such as pushing China to allow a renewed and rapid escalation in its currency. That is how you could get a full-blown trade war.
Hard truth: When it came time for Obama to choose between his political allies on one hand and America’s economic allies (and consumers) on the other, he chose the former this time.”
Mr. Pethokoukis’ article is here:blogs.reuters.com/james-pethokoukis/2009/09/16/obama-risks-trade-war-to-help-union-allies/
I am truly unhappy about this. Great post, I guess I will have to find something else to post about like our unilateral surrender to Russia.
Go at it Dave. I am actually more incensed by our sellout of our allies in Poland and the Czech Republic. These poor people suffered for 50 years under the combined occupation of the Nazi Germans and the Communist Soviet Union. They watched as the Communist tanks rolled thru their streets and were subjected to Communist tyranny.
But hey, what’s wrong with being a Communist? After all Obama doen’s mind hiring them.
If the problem were unfair trade practices regarding tires, I would agree like I did with the Bush Steel tarriffs. They were narrow and specific to remedy a problem. This tire thing is pure retaliation and I will be the one to suffer. Even worse it doesn’t fix the underlying problem. Whatever happened to being humble and working things through? Maybe China should just put nuclear subs off our shore then we will give them anything they want.
We cave to threats and hammer our friends. I just don’t get it.
“We cave to threats and hammer our friends. I just don’t get it ”
I don’t get it either but in your first sentence you just described the Obama foreign policy.
If China retaliates then we can back down from the tire tariff. That is how this game is played.
you will get to pay a couple of hundred dollars so that Obama can payoff his Union buddies.
Those Union buddies are somebody else’s customers. A lot of businesses are hoping that their customers will get some more money in their pockets soon.
The Chinese broke a trade law, so Obama is right for calling them on this and enforcing the law.
Come on, Conservatives, you have to agree with this action.
Moreover, if we save 5000 or more American jobs, and have to pay a little more for our tires, I think it is worth it, don’t you?
Here, check it out for yourself!