Tariffs, most economists would agree, act to restrict imports of the item targeted by the border tax. A US tariff on Chinese-made port cranes will be indiscriminate — hurting exports as well as imports, and boosting costs for the government, companies and consumers.

US ports are urging the Biden administration to reconsider a proposed 25% tariff on Chinese-made cranes, arguing it will increase costs by over $130 million and hurt their competitiveness. They argue there are no alternatives to Chinese cranes and the tariff will negatively impact efficiency, capacity, and the overall economy. The ports dispute the administration’s claims of security threats posed by the cranes.

https://archive.is/ZdmoV

  • CCCP Enjoyer@lemmygrad.mlEnglish
    27·
    4 months ago

    The US can make it’s own cranes – oops! No steel plants anymore… I guess the US will just have to import steel – oops! Steel tariffs are expensive! Shit… I guess the US will just have to buy cheap cranes from Chi-- oops!