December 5, 2003
DO IT UNILATERALLY:
US calls for tariff-free world: US Trade Representative Zoellick pushed for the plan (BBC, 26 November, 2002)
The US government has called for the elimination of all tariffs on manufactured goods under World Trade Organisation (WTO) rules.The plan would lead to the elimination of all tariffs on industrial and consumer goods by 2015 in an attempt to jump-start global trade talks.
The proposal, unveiled on Tuesday by US Trade Representative Robert Zoellick and Commerce Secretary Donald Evans, would eliminate tariffs on $6 trillion (£3,870bn) worth of non-farm goods.
It was hilarious today to listen to reports about how George W. Bush had surprised people by revoking the steel tariffs. Did people really think the most pro-free trade president we've ever had was going to start a trade war with fellow democracies? Posted by Orrin Judd at December 5, 2003 12:37 AM
Can anyone tell me what's wrong with this: Automatically mirror foreign tariffs. If widget A comprises 15% of US exports to France, and France imposes a 10% tariff, then map same 10% that onto some widget B that comprises 15% of France's exports to the US. If France provides 1 billion in subsidies to widget c makers, and 10% of their widget c production is sent to the US, then collect 100 million in tariffs on it. Maybe we could give a little more slack to poorer nations, and to nations that vote right in the UN. To add credability to the threat, have it be administered by the heads of the manufacturing unions.
Posted by: some random person at December 5, 2003 1:27 AMIf France wants to give us a product for 85% of its cost why would we say no?
Posted by: h-man at December 5, 2003 6:40 AMSRP: Because it causes a worldwide depression. It's fair on paper, and lousy economic policy in practice. Smoot-Hawley was a mild reaction to other trade barriers; it prompted a mirror effect worldwide, and voila! worldwide Depression.
Posted by: Chris at December 5, 2003 8:09 AMI love the blogosphere, but I'd like to see the bloggers live up to their own standards and apologize for bloviating on and on about the outrage of the Bush steel tariffs. Its no less than they demand of the old media.
Posted by: Buttercup at December 5, 2003 10:55 AMButtercup:
You mean like they apologized for bloviating about Bush going wobbly on Iraq? Don't hold your breath.
Posted by: oj at December 5, 2003 11:04 AMOJ's right - reading the conservative sites Bush is the most protectionist president since Smoot-Hawley, free trade agreements with Chile, Singapore, and others be damned.
Posted by: AWW at December 5, 2003 11:54 PM