Globalization Under Attack

November 2009
Trends Magazine;Nov2009, Issue 79, p4
The article discusses the move of the White House of imposing a 35% tariff on truck and automobile tires from China in 2009. Under the Section 421 of the Trade Act of 1974, the President can enforce tariffs on any product if he can present that foreign imports of the product have interrupted the market. The International Trade Commission urged that President Barack Obama enforce a 55% tariff on Chinese tires, which would have increased the price of a 400 dollars to 620 dollars set of tires.


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