Even the union won't benefit from a 55% tariff on Chinese imports

摘要

Wow. On June 29, the International Trade Commission (ITC) voted to remedy what it considered a threat to domestic tire manufacturing - Chinese consumer tire imports - with a 55% tariff! The United Steelworkers, as you might expect, were ecstatic. The union called it "a great victory for the USW, its members and for all U.S. tire workers." It's not a "victory" yet. The commissions remedy, which includes a 45% tariff in year two and a 35% tariff in year three, is only a proposal. (The duties are not cumulative from year to year.)