It is nonsensical for the deficit-ridden U.S. government to subsidize corn-derived ethanol while imposing punitivetariffs on imports of Brazilian ethanol made from sugar cane.
In 1995, America came close to imposing punitivetariffs on Japanese luxury cars in retaliation against the exclusive ties between Japanese car makers and showrooms.
Europe offered to make amends by lowering some of its own barriers to imports, but Congress, frustrated by delays and unpersuaded by wiser voices in the White House, plumped for punitivetariffs instead.