When Reducing Tariffs on Imported Steel, Why Not Cars Too?
The US automakers (GM, Ford and DaimlerChrysler) have teamed up with foreign transplants (Honda, Nissan and Toyota) to pressure the Bush Administration and the International Trade Commission (ITC) to drop tariffs on imported galvanized steel used to make motor vehicles. See the WSJ article and the editorial in today's Detroit News.
Searching the ITC's online 2006 tariff database, I found tariff rates on foreign steel used for motor vehicles to be only between 2 to 3.2%. Tariffs on imported, finished motor vehicles, are 2.5%.
Just wondering, during the ITC hearings starting tomorrow (10/17/06), could they perhaps discuss ending tariffs on both imported steel and imported vehicles?