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Tariffs in sentence

1238 examples of Tariffs in a sentence

Because the UK has historically shown far less appetite for industrial subsidies than its trading partners have, it stands to gain from clear international rules on industrial support and anti-subsidy tariffs.
Now the fear is that currency warfare, leading to tariffs and retaliation, could cause disruptions to the international trading system as serious as those of the 1930’s.
In fact, it was not countries experiencing the worst economic downturns and the highest unemployment rates that raised tariffs and tightened quotas most dramatically in the 1930’s.
In the 1930’s, the countries that raised their tariffs and tightened their quotas the most were those with the least ability to manage their exchange rates – namely, countries that remained on the gold standard.
That concern has been exacerbated by President Donald Trump’s recent imposition of tariffs and expressions of contempt for multilateral institutions.
In 1972, President Richard Nixon unilaterally imposed tariffs on America’s allies without warning, violated the framework of the International Monetary Fund, and pursued an unpopular war in Vietnam.
Monetary experts argued that an agreement on currency stabilization would be highly desirable, but that it required a prior agreement on the dismantling of trade barriers – all the high tariffs and quotas that had been introduced in the course of the depression.
Other countries would retaliate by imposing tariffs of their own, flattening US exports.
The obvious alternative to import tariffs is plain-vanilla fiscal policy – tax cuts and increases in public spending.
Still, the point about tariffs is important.
That depreciation is larger than the likely tariffs the US would impose on Mexican goods if it left NAFTA.
Customs unions typically bring together neighboring countries, which then trade across tariff- and quota-free frontiers and apply common tariffs for trade with other countries.
Making matters worse, as May herself declared when she was campaigning for the Remain camp ahead of the referendum, there is no such thing as a virtual border between countries with different tariffs.
And it should open its markets, not only by abolishing its import tariffs on Ukrainian products, which has already been decided, but also by granting a temporary exemption from the need to meet all of the EU’s complicated technical standards and regulations.
While Trump has blinked on China by putting on hold his promised sweeping tariffs on Chinese imports to the US, he has attempted to coerce and shame US allies like Japan, India, and South Korea, even though their combined trade surplus with the US – $95.6 billion in 2017 – amounts to about a quarter of China’s.
But Trump – who has also refused to exclude permanently Japan, the European Union, and Canada from his administration’s steel and aluminum tariffs – pays no mind to his allies’ preferences.
NEW YORK – The latest round of tit-for-tat tariffs by the United States and China has intensified the ongoing global debate about whether the world is facing a mere trade skirmish or heading rapidly toward a full-blown trade war.
China immediately implemented retaliatory tariffs, spurring the US to threaten even more protectionist measures.
These actions exacerbate tensions over the Trump administration’s imposition of tariffs on imports from other countries, including some of America’s closest allies (such as Canada), and its threats to withdraw from the World Trade Organization, which undergirds the rules-based system regulating cross-border flows of goods, services, and capital.
But most economists also agree that competitive tariffs are a risky way to address these grievances.
Because tariffs transmit stagflationary pressures (that is, they encourage simultaneous economic contraction and inflation), they risk undermining a global recovery that is already facing challenges.
Consider imported steel, which the Trump administration targeted with 25% tariffs in March.
The stated basis for those tariffs was “national security,” even though US defense industries account for just 3% of the country’s steel consumption.
At any rate, the tariffs were also imposed on US allies such as Canada, which gives the lie to the national-security argument once and for all.
In the case of rivals such as China, steel imports were already subject to tariffs as high as 70%, and accounted for only 2% of US steel consumption.
US import tariffs now apply to 59 different types of steel.
Back in 2002, when the US steel industry persuaded President George W. Bush to slap tariffs of 8% to 30% on imported steel, there were about 187,000 steelworkers in the US.
After first watering down the tariffs, the Bush administration abandoned them altogether after 18 months.
According to a study published in March, Trump’s steel and aluminum tariffs may create 33,400 additional jobs in the metals sector, but will destroy 180,000 jobs across the rest of the economy.
South Korea, which has agreed to adopt “voluntary export restraints” in exchange for an exemption from US steel tariffs, is asking its domestic producers’ association to allocate export quotas among its members.
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