hypocritexposer
Well-known member
* SEPTEMBER 12, 2009, 8:34 A.M. ET
A Protectionist Wave
Obama invites a rush of similar claims with his tariffs on Chinese tires.
The White House leaked word late Friday evening that the U.S. will impose a 35% tariff on imported Chinese tires used by millions of low-income Americans. We wonder if President Obama understands the political forces he's unleashing with this blatant protectionism.
Mr. Obama is setting a precedent in the tire case because he is applying a previously unused part of the trade law known as Section 421. This allows U.S. industries or unions to seek protection from "surges" of Chinese imports, with a lower burden of proof than normal antidumping or countervailing duty cases. President Bush nixed the four Section 421 petitions that reached his desk, citing the national economic interest. Domestic lobbies had lobbied Mr. Obama hard to reverse that pattern and set a new protectionist precedent.
http://online.wsj.com/article/SB10001424052970203440104574404163562472086.html