Sunday, September 13, 2009

Did you hear about the protectionist tariff on tires?


President Obama, in contrast to his free trade declarations at the G20 summit, has imposed a 35% trade tariff on Chinese-produced cheap auto tires.
Tire manufacturers in the US don't want to produce these lower quality tires because they lose money on this product. So they have let the Chinese tire manufacturers take over the production.
But union workers are concerned about losing jobs to the Chinese. They have complained that they have lost 5000 jobs due to the importation of Chinese-made tires.
President Obama election campaign was in part financed by over 600 million dollars from unions.
http://www.weeklystandard.com/Content/Public/Articles/000/000/016/959ypaav.asp

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