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NTU urges all Representatives to vote “NO” on H.R. 4105
March 5, 2012
NTU urges all Representatives to vote “NO” on H.R. 4105, a bill that would sanction further rounds of punitive tariffs on imports from countries such as China and Vietnam. These “countervailing duties” would impose higher costs on American consumers and businesses while threatening to escalate a trade war during this shaky economic recovery.
Economics 101 tells us that tariffs amount to nothing more than tax increases on our own people. Equally troubling, these duties would constitute yet more hostile fire in a destructive trade war that recently saw China respond to American tariffs on tire imports by retaliating with its own tariffs on certain American automobiles and chicken products.
Supporters of the bill claim that we must offset efforts by “nonmarket economies” to subsidize products for export to the American market because artificially cheap goods compete with domestic manufacturers. But those goods are also important inputs for products assembled in this country and policies that raise the cost of purchasing them will necessarily harm American businesses.
Because this misguided legislation could imperil our fragile economy, NTU urges all Representatives to vote “NO” on H.R. 4105, the countervailing duties bill. Roll call votes on this measure will be significantly weighted in our annual Rating of Congress.
If you have any questions, please contact NTU Vice President of Government Affairs Andrew Moylan at (703) 683-5700