Word: tariff
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Dates: during 2000-2009
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...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...
TIME asks, "where will jobs come from?" The U.S. had a $670 billion trade deficit in 2008. Those billions represent millions of jobs that have been exported. It's time to recognize that free trade doesn't work. Bring jobs back from overseas with a 20% across-the-board tariff on imports...
Bill Clinton threatens Japan with a 100% tariff on luxury cars unless Tokyo eases its regulations against U.S. automakers. An 11th-hour deal scuppers the tariff...