Word: tariff
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Clinton said foreign investors, specifically from South Korea and Brazil, have already shown interest in establishing garment factories in Haiti if there are changes made to the HOPE (Hemispheric Opportunity through Partnership Encouragement) Act, which allows Haiti to export textiles tariff-free to the U.S. "I think it will create more than 100,000 jobs in Haiti in short order," said Clinton...
...fish that amounted to roughly 6% of their cost, he says. As a result, China only made up slightly less than 10% of Qian Hu's $67 million in 2009 revenue, a share that Yap aims to triple over the next five to 10 years now that the tariff is gone...
...their own, and usually only with their premium labels. Although single-malt is a new status symbol in India, Scotch-whisky producers have been similarly frustrated in their efforts to crack the Indian market. In response to complaints at the World Trade Organization, India has lowered its base tariff, but alcohol importers and trade representatives from the U.S. and E.U. are pressuring India to lower taxes even further...
Other than complain, there's little either can do to halt this integration. Punitive tariffs backfire. The Obama Administration's 35% tariff on imports of Chinese tires potentially hurt Goodyear's operations in Ohio because the company had developed a cost structure that uses production in China as a way to maintain its U.S. operations. China threatened to retaliate with tariffs on U.S. chicken parts. If tires and chicken parts are the worst of it, so much for trade wars...
...Sheikh to announce the plan on Nov. 8, Premier Wen Jiabao dismissed suggestions that the initiative is merely an attempt to broaden China's business interests on the continent. The package--coming on the heels of a $5 billion pledge in 2006--includes clean-energy projects, debt cancellations and tariff exemptions...