ABOUT US  |  CONTACT US  |  RSS  |  ARCHIVE  |  2021-06-20  |  UPDATED: 1400/03/24 - 10:10:0 FA | AR | PS | EN
4 killed as Turkey intensifies attacks on ‘PKK targets’ in Iraqi Kurdistan             Biden to discuss airport security situation with Erdogan             Mysterious fire razes to rubble Rohingya refugees camp in New Delhi             Netanyahu shown the door, US pledges allegiance to new Israeli regime             Florida gov., rising GOP star, says he has not discussed 2024 with Trump             Erdogan Says US Can Rely on Turkey Once Troops Leave Afghanistan             Gas pipe explosion kills 11 in central Chinese city             Islamic Jihad urges unity to confront Israeli ’checkpoints of death’             Beijing says small groups can’t rule world as G7 adopts anti-China agenda             Texas, Arizona Govs. calling for states to send police to help deal with border crisis             Iran: Vienna talks on JCPOA revival unlikely to conclude this week             Public protests against police brutality grip Tunisia             Azerbaijan swaps 15 Armenian prisoners for map of landmines             Biden declines to hold joint news briefing after meeting Putin             Spanish father ’killed daughters, dumped bodies at sea,’ say investigators            


DATE PUBLISHED: 1400/03/10 - 12:24:4
VISIT: 331
SHARE WITH YOUR FRIENDS

US manufacturers blame Trump-era tariffs for swelling inflation: WSJ


Steel pipes being loaded for export in Handan, China, in April. (Photo via The Wall Street Journal)

American manufacturers believe that the Trump-era import tariffs are to blame for swelling inflation across the United States, a report says.

The administration of former president Donald Trump implemented tariffs on products including lumber, steel and semiconductors, claiming the move would protect American companies from cheap imported products from China and other countries.

However, US companies, which import the goods and pay the levies, have, for long, opposed the tariffs and now are pushing for the administration of President Joe Biden to lift them, The Wall Street Journal reported on Sunday.

They contend that tariffs contribute to rising prices and product shortages that are accompanying the post-pandemic recovery.

"I have had 15 price increases from my primary steel supplier since September," said Scott Buehrer, president of B. Walter & Co., a Wabash, Ind., maker of fabricated metal products. "What’s the justification for these tariffs when you have sky-high steel prices?"

Buehrer said he has decreased his payroll by 10% to reduce costs as the prices of rolled steel increased almost three times as much since last fall.

Early in May, Buehrer’s company along with over 300 manufacturers wrote a letter to Biden, asking the Democratic president to immediately end 25% tariffs on steel and 10% levies on aluminum.

The Biden administration has already said it is reviewing the tariff policy but noted there were no immediate plans to lift the tariffs.

The Trump administration first imposed tariffs on steel and aluminum imports from several countries, including Canada, Mexico and Turkey, in March, 2018.

Trump claimed that "aggressive foreign trade practices" related to the trade goods amounted to an "assault on our country" and the American steel industry.

The former US president then announced several rounds of tariffs on Chinese goods. The two countries exchanged tariffs on more than $360 billion in two-way trade.

Last year in September, nearly 3,500 US firms -- including major corporations such as Tesla, Ford Motor, Target, Walgreens and Home Depot - took legal action against the Trump administration for imposing tariffs on Chinese goods.
Thousands of US firms sue Trump administration over anti-China tariffs

The WSJ also said in its report that some economists argue the tariffs have had only muted effects on prices and that their removal will not help ease the price pressure.

Labor unions and the steel industry, the report said, are calling on Biden to keep the metal tariffs in place, saying in a May 19 letter that the policy has enabled the industry to "restart idle mills, rehire laid-off workers and invest in the future."

"The tariffs have been in place since 2018 and there has been no inflationary pressure since then," said Roy Houseman, legislative director at United Steelworkers. "The US has put trillions of dollars of stimulus in the economy. That is going to impart some inflationary pressure."

 

LINK: https://www.ansarpress.com/english/22653


TAGS:






*
*

*



SEE ALSO

US unveils criminal charges against two Israelis in insider trader scheme


Developer officially cancels Keystone XL pipeline project blocked by Biden


Afghanistan and Turkmenistan to sign marble export agreement


US worker shortage is real and getting worse by the day: Chamber of Commerce


Chinese consortium meets with Ghani over $400 million power project


HSBC exits loss-making US retail banking as part of Asia pivot


UK won’t commit to halting new oil exploration despite climate report


Biden says Nord Stream 2 sanctions waived because pipeline nearly done & fighting it now would be ‘counterproductive’ with allies


World Bee Day: Depending on the survival of bees


Iran marks milestone by sending oil to terminal on Sea of Oman





VIEWED
MOST DISCUSSED




POLL

Modi, Merkel Discuss Afghanistan, Radicalisation And Terrorism

SEE RESULT


LAST NEWS

Biden agrees with Putin on ‘low point’ in US-Russia ties

4 killed as Turkey intensifies attacks on ‘PKK targets’ in Iraqi Kurdistan

Biden to discuss airport security situation with Erdogan

Mysterious fire razes to rubble Rohingya refugees camp in New Delhi

Netanyahu shown the door, US pledges allegiance to new Israeli regime

Florida gov., rising GOP star, says he has not discussed 2024 with Trump

Erdogan Says US Can Rely on Turkey Once Troops Leave Afghanistan

Gas pipe explosion kills 11 in central Chinese city

Islamic Jihad urges unity to confront Israeli ’checkpoints of death’

Beijing says small groups can’t rule world as G7 adopts anti-China agenda

Texas, Arizona Govs. calling for states to send police to help deal with border crisis

Iran: Vienna talks on JCPOA revival unlikely to conclude this week

Public protests against police brutality grip Tunisia

Azerbaijan swaps 15 Armenian prisoners for map of landmines

Biden declines to hold joint news briefing after meeting Putin

Spanish father ’killed daughters, dumped bodies at sea,’ say investigators

Euro 2020: Belgium crush Russia; Finland upset Denmark

US unveils criminal charges against two Israelis in insider trader scheme

France marches for liberties

Top US general confirms climate change’s threat military ops

Families find the bodies of two missing Kabul women+Video

N Korea’s Kim calls for boosting military power: Report

Washington rattled at deepening ties between Iran, Cuba, and Venezuela?

UK envoy called for acts of sabotage against Sana’a government, says Yemeni official

Human rights group lodges ‘torture’ complaint at Paris court against UAE official

Canadians rally against Islamophobia after Muslim family killing

Federal judge halts debt-relief program for US minority farmers

Hazaras in Afghanistan: Victims of Genocide as World Turns Blind Eye

‘They’re trying to kill Assange because he spoke the truth’: Roger Waters calls on Biden to end ‘disgusting’ sham prosecution

Massive EA Games hack began with cyber thieves posing as employee on Slack

South Korea can now build missiles able to reach Beijing, Moscow as US lifts range limits

Araqchi: US shedding ‘crocodile tears’ on prisoner’s death while immiserating 82mn Iranians

US-Russia relationship ‘deteriorated to its lowest point’ in years: Putin

District in Ghor Falls to Taliban after ‘Heavy Clashes’

Russia: Terrorists beefing up presence in two areas in Syria’s Idlib, step up attacks

Internal watchdog to probe Trump-era secret seizure of Democratic lawmakers’ records

Iran: US claim of policy change towards JCPOA ’only in words’

Iran defeat Cambodia 10-0 in FIFA World Cup qualification

Pentagon announces $150 million in military aid to Ukraine

US embassy suspends all visa application process due to COVID


MEDICAL NEWS


ANSAR PRESS ©  |  ABOUT US  |  CONTACT US  |  MOBILE VERSION  |  LINKS  |  DESIGN: Negah Network Co.
All right reserved. Use this website by mentioning the source (link) is allowed. ÝÑæԐÇå ÇیäÊÑäÊی äÚáÈäÏÇä