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May 2, 2018
Leibowitz Which is Better - Quotas or Tariffs?
Written by Lewis Leibowitz
Peter Navarro and Wilbur Ross have gone to China to discuss trade and tariff issues. On their last day in Washington, they made some remarks about the steel and aluminum tariff measures announced Monday night. The picture is becoming clearer, but there are also more questions.
Today, I am focusing on the Ross and Navarro announcements that all countries that receive exemptions from the tariffs (so far, that is Argentina, Australia, Brazil, Canada the EU, Korea and Mexico) “will have a quota and other restrictions which are necessary to defend the aluminum and steel industries from imports in defense of our national security.” (Navarro remarks to AISI/SMA conference in Washington). Secretary Ross echoed these sentiments in an interview on Tuesday with CNBC, as did Sarah Huckabee Sanders, the President’s Press Secretary.
