Tariffs
in sentence
1238 examples of Tariffs in a sentence
The price of soybeans has fallen sharply in recent months, owing to China’s imposition of
tariffs
on US soybeans, in retaliation to higher US
tariffs
on some Chinese exports.
Import
tariffs
tend to be higher in developing countries, making it more difficult to gain access to them.
On the contrary, through its low
tariffs
and general lack of import restrictions, the US has turned itself into an international shopping theme park.
They used the constant threat and routine application of force and violence to impose slavery, low inward tariffs, and immunity for their colonists.
That is clearly disingenuous, and the announcement of large US
tariffs
on Chinese exports is intended to encourage China to comply with the WTO rule on technology transfer.
The obvious question is how the Trump administration can base a policy decision as consequential as trade
tariffs
– which could trigger a catastrophic trade war – on such weak evidence.
The following propositions garnered support from at least 90% of economists: import
tariffs
and quotas reduce general economic welfare; rent controls reduce the supply of housing; floating exchange rates provide an effective international monetary system; the US should not restrict employers from outsourcing work to foreign countries; and fiscal policy stimulates the economy when there is less than full employment.
But there is always the risk that the IMF’s recommendations calling for more taxation – an increase in value-added tax and higher energy
tariffs
– together with Hezbollah’s recurring demands, might create a political earthquake.
Progress in economic thought after 1929 initially led to the argument that, in a depression,
tariffs
are justified because they would divert insufficient aggregate world demand to one’s goods at the expense of others.
But all could play this game, saddling the world economy with
tariffs
that would likely hurt all while failing to revive growth.
Thus, for instance, bound
tariffs
(i.e., agreed ceilings) allow countries to raise actual tariffs, which are often lower, without restraint.
The agreement requires that, to avoid tariffs, 75% of an automobile’s content originate within North America – an increase from 62.5% – in order to reduce imports of components from Asia.
Increased costs for steel and aluminum inputs as a result of Trump’s
tariffs
(leaving aside foreign retaliation) only exacerbate the industry’s problems.
Phasing out
tariffs
and import quotas for poor countries’ exports – and phasing out subsidies for their own producers of agricultural products – would have a dramatic effect on the lives of hundreds of millions of people in Africa and elsewhere.
Major Vietnamese exporters of seafood and steel have already been hit with new US tariffs,and additional sectors, such as textiles, could be next.
The World Trade Organization recently reported that in response to US tariffs, G20 countries have imposed around 40 new import restrictions, affecting $481 billion in global trade – a sixfold increase from the year before.
The TTIP would eliminate all trade
tariffs
and reduce non-tariff barriers, including in agriculture; expand market access in services trade; bring about closer regulatory harmonization; strengthen intellectual-property protection; restrict subsidies to state-owned enterprises; and more.
Tariffs
are generally modest already, so gains from their further reduction would be modest as well.
Its copycat, SAFTA (the South Asian Free Trade Agreement), moved slowly to reduce
tariffs
and the list of excluded items, so India signed separate bilateral FTAs with Bangladesh and Sri Lanka.
Start by canceling the
tariffs
on steel and other imports that Trump has threatened to impose.
But so do tariffs, and the losers far outnumber the winners.
These so called “anti-dumping” laws allow a company that suspects a foreign rival of selling a product below cost to request that the government impose special
tariffs
to protect it from “unfair” competition.
The Trump administration has imposed import
tariffs
on steel, aluminum, and a wide range of Chinese goods (with many more to come), and it is considering additional levies on automobiles from Europe and the rest of the world.
Since February, equity markets have been buffeted by fears of rising inflation and import tariffs, and by the backlash against big tech.
Any attempt by Trump to fulfill his campaign promise to impose trade restrictions, punitive tariffs, and border taxes would thus amount to a defection by the US.
Beyond Trump’s tariffs, the European Union has filed a complaint with the World Trade Organization about China’s practices of forcing technology transfer as a condition of market access.
Under WTO rules, countries may impose
tariffs
on subsidized goods from overseas that harm domestic industries.
What about the recent
tariffs
imposed by the United States on Chinese tires?
The
tariffs
that Obama imposed were considerably below what the USITC had recommended.
Add steep
tariffs
on imported manufactured goods – rammed through over the angry protests of farmers and southern planters – and you have the policies that intelligently designed much of nineteenth- and early twentieth-century America.
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