Elimination Of Some Tariffs Would Aid US Trade: ITC

Law360, New York (October 1, 2009, 5:13 PM EDT) -- U.S. exports would expand by $5.5 billion and imports by $13.1 billion over the next four years if tariffs were eliminated in the sugar, dairy, tobacco, textile and other manufacturing sectors, according to a new report from the U.S. International Trade Commission.

The report, released Wednesday, estimated changes in U.S. welfare, output, employment and trade that would result from the unilateral elimination of significant import restraints, specifically tariffs and tariff-rate quotas on a range of agricultural and manufactured products.

All told, annual welfare in the United...
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