Tariffs
in sentence
1238 examples of Tariffs in a sentence
They are taking concrete actions, such as ensuring that essential malaria-control interventions are exempted from taxes and
tariffs
that add unnecessary costs to life-saving items, and that supplies are purchased in bulk to reduce costs.
And a focus on demand management clearly reveals that the US will suffer from Trump’s tariffs, while China can avoid any adverse effects.
In a recession,
tariffs
can boost economic activity and employment, albeit at the cost of long-term efficiency.
But when an economy is operating at or near its maximum capacity,
tariffs
will merely raise prices and add to the upward pressure on US interest rates.
US businesses could not, in aggregate, find extra low-wage workers to replace Chinese imports, and even the few US businesses motivated by
tariffs
to undercut Chinese imports would need to raise wages and build new factories, adding to the upward pressure on inflation and interest rates.
So, unless US businesses are sure the
tariffs
will continue for many years, they will neither invest nor hire new workers to compete with China.
Assuming that well-informed Chinese businesses know this, they will not cut their export prices to absorb the cost of US
tariffs.
That will leave US importers to pay the
tariffs
and pass on the cost to US consumers (further fueling inflation) or to US shareholders through lower profits.
Thus, the
tariffs
will not be “punitive” for China, as Trump seems to believe.
But let us concede that the
tariffs
may price some Chinese goods out of the US market.
Thus, to the very limited extent that
tariffs
do prove “punitive” for China, the effect on other emerging markets and the global economy will not be damaging “contagion” but a modest boost to demand that results from displacing Chinese exports to the US.
True, Chinese exporters may experience modest losses as other producers take advantage of the US
tariffs
to undercut them.
But China’s stimulus measures have so far been cautious, as they should be considering the negligible impact that US
tariffs
have had on Chinese exports.
In principle, China can avoid any damage at all from US
tariffs
simply by responding with a full-scale Keynesian stimulus.
But such financial policy arguments against Keynesian policy are surely irrelevant now that the US has presented the battle over Trump’s
tariffs
as the opening skirmish in a geopolitical Cold War.
This raises the question of how Trump will react when his
tariffs
start to hurt US businesses and voters, while China and the rest of the world shrug them off.
After firing an opening salvo of steep
tariffs
on steel and aluminum, the US administration has released a plan for a 25% tariff on 1,333 Chinese imports – worth about $50 billion last year – to punish China for what it views as decades of intellectual property theft.
In response to what he labels “unfair retaliation,” US President Donald Trump is now said to be considering yet another set of tariffs, covering another $100 billion worth of imports from China.
More useful insights come from game theory, which can help us to determine whether this exchange of
tariffs
will ultimately amount to strategic posturing that leads to a more “cooperative game” (freer and fairer trade), or develop into a wider “non-cooperative game” (an outright trade war).
But the PTAs that now exist or are being negotiated focus more on regulatory issues than tariffs, and would therefore require participants to reach agreement on a wide range of rules covering, for example, investment, fair competition, health and safety standards, and technical regulations.
And, at the multilateral level, agricultural production and trade is influenced by policies on subsidies, tariffs, and export restrictions (although the latter are not currently governed by strict WTO rules).
EEA countries, though free to set their own tariffs, follow nearly all of the EU rules and pay contributions to the EU budget.
Sorry for those steel and aluminum tariffs, too.
By streamlining drug-approval processes, removing tariffs, and simplifying customs procedures, many countries could immediately increase the availability of dozens of essential medicines.
Whenever one member is successful in exporting to another, the importing member soon imposes quotas or prohibitive tariffs, impeding economic development.
Now the four presidents propose an independent supranational commission for trade and
tariffs
in order to forge a common customs policy.
For instance, Russia's automotive and aviation industries insist on high import tariffs, while Kazakhstan produces neither cars nor airplanes.
Russia's high import
tariffs
on cars would impose an unjustified consumer tax on Kazakhs.
But, because it focuses mainly on tariffs, AGOA has limited capacity to address other economic challenges in African countries, such as supply-side constraints to regional and global trade, and the need for greater value-added production and export diversification.
Moreover, the macro tradition vacillates between specific recommendations (“set low and uniform tariffs,” “remove interest-rate ceilings on banks,” “improve your ‘doing business’ ranking”) that find limited support in cross-country evidence, and broad recommendations that lack operational content (“integrate into world economy,” “achieve macroeconomic stability,” “improve contract enforcement”).
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