Thursday, September 08, 2005

Reduce tariffs?

This just in from the too little, too late department: The Bush administration announced it has made a preliminary determination to reduce the penalty tariffs being imposed on Mexican cement giant Cemex from the current 54.97 percent to 40.54 percent. The lower rate will not go into effect until a further investigation is completed Dec. 7. Ken Simonson, chief economist for Associated General Contractors of America, called the proposed reduction in tariffs for Cemex minuscule in the face of the increased demand for cement in this country to "meet the terrible need for cement and other construction supplies in the Gulf region." Of course, the Southern Tier Cement Committee, and other organizations oppose any reduction in tariffs on the grounds that Mexico continues to dump cement in the U.S. market, which makes the U.S. more dependent on imported product. The battle goes on. Your comment?