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Keep in mind, the US is by far the LEAST protectionist country according to the WTO, with China being the most, and Europe somewhere in the middle. Europe also
by noetic_techy 9y ago
Keep in mind, the US is by far the LEAST protectionist country according to the WTO, with China being the most, and Europe somewhere in the middle.
Europe also has anti-dumping and high tariffs on China, with some steel import tariffs as high as 71.9% in some cases to prevent dumping. Cars being shipped from the U.S. into Europe faced a 10% import duty while European cars into the U.S. face only a 2.5% percent duty.
China makes its immensely difficult for US based companies to enter Chinese markets, and IP enforcement is abysmal. Fixing this access imbalance was the only thing good the TPP had going for it, but the concessions were too much and ultimately it was scrapped.
I sincerely hope this does bring everyone back to the negotiating table eventually for a better deal.
- fwgwgwgch 9y agoAnd I suppose once TOP was in place scrapping it would b have been more difficult (like NAFTa) and getting China to play by the rules too
- mrwebmaster 9y agoThe WTO uses bound tariffs, not the actual applied tariffs, as far as I know. The applied tariffs adjusted by real trade shows that US is not the least protectionist country, Japan and Singapore are less protectionist. Anyway, the adjusted tariff is lower than the China tariff. https://ftalphaville.ft.com/2018/03/08/1520526203000/America-is-not-the-least-protectionist-country-in-the-world/ https://ftalphaville.ft.com/2018/03/08/1520526203000/America...