Tariff Boost Ordered on Japanese Leather, Footwear
WASHINGTON (AP) _ President Reagan on Monday ordered increased tariffs on Japanese leather and footwear products in partial retaliation for Japanese barriers on similar U.S. products.
Reagan said the Japanese restrictions ″are unreasonable and constitute a burden or restriction on U.S. commerce.″ The higher tariffs are expected to cut Japanese sales of the products in this country by about $24 million, according to administration trade analysts.
The action, on an unfair-trade complaint lodged by the administration last September, carries out action announced in December by U.S. Trade Representative Clayton Yeutter.
Japan agreed to lower its barriers on some U.S. footwear and leather products, and also to ease restrictions on a range of other products, including aluminum.
All told, these Japanese concessions should be worth an additional $236 million a year in increased U.S. sales in Japan, administration analysts said.
However, the Japanese concessions did not quite match the $260 million U.S. manufacturers claim they lost last year because of the footwear and leather restrictions. Thus, the higher U.S. tariffs were imposed to make up most of the difference.