Could you please explain this so that it makes more sense. "The U.S. government is considering cutting tariffs on imported running shoes. In another case, however, the U.S. government is running in the opposite direction: they want to cut imports of solar panels from China. The rubber meets the road, so to speak, when the topic of running shoes comes up. Maine manufacturer New Balance hates the idea of freer trade. The company currently benefits from tariffs, in some cases reaching more than 60 percent on shoes manufactured in Vietnam. New Balance pays its workers in Maine more than $10/hour, while Vietnamese shoe makers are paying their employees 46¢/hour. Nike would like to import more of its U.S.-designed shoes from Vietnam so consumers could pay lower prices. Nike argues that lower tariffs will create high-paying jobs in the United States for positions from designers to product engineers. Nike and other supporters of new free trade agreements argue that tariff barriers that save jobs in one industry often make little sense in the context of overall risks and benefits to Americans. Meanwhile, the U.S. government has succeeded in cutting by half imports of solar panels from China. American solar panel manufacturers are cheering. In 2012, the United States imposed duties of roughly 24 to 36 percent on imported panels made from Chinese solar cells after concluding that Chinese solar companies had received unfair subsidies from their government and dumped products on the American market below costs. But the tariffs have upset the domestic solar industry. Many manufacturers have been squeezed to bankruptcy by intense competition from China, while developers, installers, and consumers have been helped by the availability of inexpensive panels. Amid a similar trade case overseas, the Chinese and the European Union agreed on a price floor and volume quota for Chinese modules. Further complicating matters, a Justice Department indictment accusing five Chinese military personnel of online attacks against American industrial targets cited SolarWorld as a prominent victim, saying its computers had been broken into, and financial and legal documents stolen, after it filed trade complaints against Chinese manufacturers. And, of course, the Chinese government has complained loudly about the tariffs. At this writing, President Trump is deciding on how high to raise the tariffs on Chinese solar equipment. Ultimately, as solar energy becomes more expensive, the world becomes more polluted."
Could you please explain this so that it makes more sense.
"The U.S. government is considering cutting tariffs on imported running shoes. In another case, however, the U.S. government is running in the opposite direction: they want to cut imports of solar panels from China.
The rubber meets the road, so to speak, when the topic of running shoes comes up. Maine manufacturer New Balance hates the idea of freer trade. The company currently benefits from tariffs, in some cases reaching more than 60 percent on shoes manufactured in Vietnam. New Balance pays its workers in Maine more than $10/hour, while Vietnamese shoe makers are paying their employees 46¢/hour. Nike would like to import more of its U.S.-designed shoes from Vietnam so consumers could pay lower prices. Nike argues that lower tariffs will create high-paying jobs in the United States for positions from designers to product engineers. Nike and other supporters of new free trade agreements argue that tariff barriers that save jobs in one industry often make little sense in the context of overall risks and benefits to Americans.
Meanwhile, the U.S. government has succeeded in cutting by half imports of solar panels from China. American solar panel manufacturers are cheering. In 2012, the United States imposed duties of roughly 24 to 36 percent on imported panels made from Chinese solar cells after concluding that Chinese solar companies had received unfair subsidies from their government and dumped products on the American market below costs.
But the tariffs have upset the domestic solar industry. Many manufacturers have been squeezed to bankruptcy by intense competition from China, while developers, installers, and consumers have been helped by the availability of inexpensive panels. Amid a similar trade case overseas, the Chinese and the European Union agreed on a
Further complicating matters, a Justice Department indictment accusing five Chinese military personnel of online attacks against American industrial targets cited SolarWorld as a prominent victim, saying its computers had been broken into, and financial and legal documents stolen, after it filed trade complaints against Chinese manufacturers. And, of course, the Chinese government has complained loudly about the tariffs.
At this writing, President Trump is deciding on how high to raise the tariffs on Chinese solar equipment. Ultimately, as solar energy becomes more expensive, the world becomes more polluted."
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
