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Obama Administration Slaps Tariffs on Chinese Auto Imports

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posted on Sep, 11 2009 @ 09:05 PM
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WASHINGTON -- President Obama has slapped punitive tariffs on all car and light truck tires entering the United States from China in a decision that could anger the strategically important Asian powerhouse but placate union supporters important to his health care push at home.

Obama had until Sept. 17 -- next week -- to accept, reject or modify a U.S. International Trade Commission ruling that a rising tide of Chinese tires into the U.S. hurts American producers. A powerful union, United Steelworkers, blames the increase for the loss of thousands of American jobs.


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Don't know what to make of this yet, I would love to hear of other comments first.




posted on Sep, 11 2009 @ 09:17 PM
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China on Thursday condemned a US decision to slap tariffs on steel pipes from the mainland, as US President Barack Obama mulled whether to also curb tire imports from the Asian giant.

The twin disputes are a litmus test for Obama's trade policy with Beijing, and are coming to the forefront ahead of his highly anticipated first presidential visit to China set for November.


news.yahoo.com...

At first glance, it sounds like a positive step. But it all depends on the wording and China's retaliation(IF) on how successful the plan will be.

I will have to keep an eye on this to see how it develops. It could very well already be an agreement between the two parties to set the rates Obama set. China wins by not paying higher tariffs and Obama wins by confronting the Chinese.



posted on Sep, 11 2009 @ 09:32 PM
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He must read ATS

See this ATS post



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