The WTO orders the EU to remove import tariffs on billions of dollars of high-tech goods. If the...


The WTO orders the EU to remove import tariffs on billions of dollars of high-tech goods. If the EU doesn't lift the tariffs, the U.S., Japan and Taiwan would have the right to impose tariffs on goods made in Europe.
Comments (5)
  • Credible Clarity
    , contributor
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    Next nail in the economic coffin? The trade protectionism ramps up.
    16 Aug 2010, 04:54 PM Reply Like
  • mra1385
    , contributor
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    this ruling is in support of free trade... "The WTO orders the EU to remove import tariffs on billions of dollars of high-tech goods."
    16 Aug 2010, 05:30 PM Reply Like
  • nyuszika45
    , contributor
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    It isn't the ruling that is a problem, but the entitlement to retribution that could be disastrous. Well, maybe it is one way to enact a Smoot-Hawley look alike that can dress like "free trade enforcement"?

     

    I've been waiting for this "nail". It has political candy payback for unions dripping off it and puddling on the ground....
    16 Aug 2010, 11:03 PM Reply Like
  • mra1385
    , contributor
    Comments (24) | Send Message
     
    This is how the WTO has been operating since its creation and it has been fairly successful. There is no other plausible way to enforce free trade agreements, other than by allowing countries to retaliate within the framework of the agreement. This is nothing new and you haven't offered an alternative to enforcing free trade agreements. This has absolutely nothing in common with Smoot-Hawley, not in spirit nor in substance.
    17 Aug 2010, 10:24 AM Reply Like
  • nyuszika45
    , contributor
    Comments (625) | Send Message
     
    How about a reverse tariff, since these governments are to eager to spend our money? Indeed, it amounts to state sponsorship - but I'm waiting to see how the current sets of arrangements in various countries does not.

     

    And you are wrong. Since Smoot Hawley was legislation designed to add tariffs on foreign goods, ostensibly to protect domestic production, the enabling of a tariff regime in retaliation for not lowering tariffs is still a set of punitive tariffs targeting foreign goods.
    17 Aug 2010, 03:18 PM Reply Like
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