Tariffs
in sentence
1238 examples of Tariffs in a sentence
As all this extra stimulus fuels an economy already nearing full employment, inflation seems bound to accelerate, with protectionist trade
tariffs
and a possible “border tax” raising prices even more for imported goods.
It doesn’t help that the Trump administration has refused to grant Japanese steelmakers exemptions from its threatened
tariffs.
But his Sword of Damocles – high import
tariffs
– still hangs over Europe.
Indeed, he has already pledged to impose
tariffs
on European cars – targeting, in particular, BMW and Mercedes – to help US car producers, even though this will also hurt American consumers.
The European Commission has been considering retaliatory
tariffs
on a variety of imports from the United States – ranging from Harley Davidson motorcycles to food products like orange juice and peanut butter – in the hope that affected American producers put pressure on the Trump administration.
The fact is that retaliatory
tariffs
are extremely dangerous, as they risk provoking a broader trade war.
Beyond this general risk of trade war, there are reasons why the European Commission, in particular, would find that retaliatory
tariffs
backfire.
While this asymmetry emerged because the US has received greater intellectual-property protections through the so-called TRIPS Agreement, the fact remains that
tariffs
undermine consumer interests, and are thus unjustifiable.
Because of these high import tariffs, European agricultural prices are, on average, around 20% above world market levels.
Instead, the European Commission should pursue a de-escalation strategy, offering to reduce
tariffs
on US imports and to resume negotiations on the Transatlantic Trade and Investment Partnership.
In January, the US is scheduled to raise recently imposed
tariffs
from 10% to 25% on Chinese imports worth $250 billion.
President Donald Trump has also threatened to impose new
tariffs
on the rest of Chinese imports, worth $267 billion.
If one focuses on net exports, following Keynesian or even mercantilist arguments, might one not expect to find that Trump’s
tariffs
stimulate US economic growth, with others’ losses being America’s gains?
The
tariffs
are presumably having a negative effect on US imports, but negative effects on US exports are also large.
Moreover, China and other countries have retaliated against US goods with
tariffs
of their own.
If Trump follows through on his threats to impose
tariffs
on all car imports and to apply the 25%
tariffs
to all imports from China, the impact on US core inflation (which strips out food and energy prices) is to reach 0.3% by September 2019.
While some US politicians call for
tariffs
against Mexico, the National Bureau of Economic Research estimates that about 40% of the value of Mexican imports to the US is actually added within the US itself.
He has threatened to impose
tariffs
against Mexico, China, and other trading partners.
Without competition, lowering
tariffs
may merely be reflected in higher profit margins for a monopoly importer.
This implies that US consumers will bear the costs of the Trump administration’s
tariffs
on Chinese imports.
The politically motivated imposition of high US
tariffs
on imports from China would fly in the face of reciprocity, contradict the win-win principle of trade, and jeopardize the interests of US voters.
China can take some measures to fight back, such as raising
tariffs
on imports of selected US products; but it should prevent trade disputes from escalating into a trade war.
China’s imposition of higher
tariffs
on imports from the US would thus have a bigger impact on US producers than vice versa.
Tariffs, for example, are not cited.
In the ensuing years, the average tariff rate applied by China has continued to fall, and now stands at less than 4%, though China does maintain an unusually high number of tariff peaks (that is, high
tariffs
for very limited categories of product).
Of course,
tariffs
are far from the only way to create obstacles to trade.
Indeed, in many ways,
tariffs
are yesterday’s problem – at least they were, until Trump dusted them off as a weapon for his trade war.
New
tariffs
that made imports more costly and that shifted demand toward domestic goods would require offsetting effects in a near-full-employment economy in order to shift demand back to foreign sources.
Working in the other direction is the fact that some of the dollar-supportive measures that observers expected Trump to adopt, such as
tariffs
on steel imports, are now coming, like it or not.
It may be indicative that on March 1, when Trump announced his steel and aluminum
tariffs
and the stock market tanked, the dollar strengthened.
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