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Start of US-China trade war - China retaliates by starting probe into the alleged dumping of America

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posted on Sep, 14 2009 @ 03:38 PM
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www.indiadaily.com...

"The well predicted trade war has finally started. The U.S. placed tariffs starting at 35 percent on $1.8 billion of tire imports from China, backing a United Steelworkers union complaint.

China announced a probe into the alleged dumping of American auto and chicken products, two days after U.S. President Barack Obama imposed tariffs on imports of tires from the Asian nation.

The Chinese honeymoon with Bush and Clinton Administrations have finally come to an end.

The U.S. decision in the tire case was a blow to Chinese producers such as GITI Tire Pte Ltd., the largest Chinese tire maker, and U.S. retailers of low-cost imports. "




posted on Sep, 14 2009 @ 03:46 PM
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I am still not convinced there is a trade war. Obama set the rate at less(20%) what had been recommended. Obama wins by taking on the Chinese and the Chinese win by paying less tariffs.


The federal trade panel recommended a 55 percent tariff in the first year, 45 percent in the second year and 35 percent in the third year. Obama settled on slightly lower penalties -- an extra 35 percent in the first year, 30 percent in the second, and 25 percent in the third, White House press secretary Robert Gibbs said


www.foxnews.com...



posted on Sep, 14 2009 @ 03:55 PM
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reply to post by jam321
 


I'm certainly not convinced that this isn't fear mongering and/or an attempt at market manipulation.

Thought it was important nonetheless.



posted on Sep, 14 2009 @ 04:01 PM
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If I were the one running the US, these tariffs on imports would have been raised dramatically IMMEDIATELY.

I believe this might be the only thing Obama has done that is actually good for this country.

What I mean.... Is that with these huge fees on imports, American-made products actually not only can compete... but they are given an advantage since it will cost a lot more to buy these Chinese goods.

Now if we can just put huge fees on everything coming INTO this country, American production will be encouraged. This will fix the job problems, as the demand for American-made goods are increased!!



posted on Sep, 14 2009 @ 04:02 PM
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Captain, don't get me wrong. I think it is important. Even flagged you on it. And market manipulation could very well be part of the reason. I just feel there is more to it than what meets the eye.

Let's keep digging.



posted on Sep, 14 2009 @ 04:07 PM
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Obama is doing what he thinks is right. There is a lot more to the picture than just tires.

U.S.-China leadership can take air out of tire spat

All agree that the political fallout will be far more tricky to handle than the economic impact and legal niceties of Obama's decision, which slaps new duties of 35 percent on Chinese-made tires from September 26 -- a day after he meets Hu at the Pittsburgh G20 summit.

Beijing agreed to an import safeguard mechanism as part of its negotiations with the United States to join the World Trade Organization. Known in U.S. trade law as Section 421, it allows nations to restrict imports from China in response to a surge.



posted on Sep, 14 2009 @ 04:15 PM
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This article relates as well:

www.indiadaily.com...

It speaks of underground construction by the PLA along india's borders, and contends that much of the jockeying going on over there right now actually has more to do with Pakistan than anywhere else.



posted on Sep, 14 2009 @ 04:27 PM
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This particular news story may be of some pertinence..



World faces hi-tech crunch as China eyes ban on rare metal exports

A draft report by China’s Ministry of Industry and Information Technology has called for a total ban on foreign shipments of terbium, dysprosium, yttrium, thulium, and lutetium. Other metals such as neodymium, europium, cerium, and lanthanum will be restricted to a combined export quota of 35,000 tonnes a year, far below global needs.

China mines over 95pc of the world’s rare earth minerals, mostly in Inner Mongolia. The move to hoard reserves is the clearest sign to date that the global struggle for diminishing resources is shifting into a new phase. Countries may find it hard to obtain key materials at any price.

Alistair Stephens, from Australia’s rare metals group Arafura, said his contacts in China had been shown a copy of the draft -- `Rare Earths Industry Devlopment Plan 2009-2015’. Any decision will be made by China’s State Council.

“This isn’t about the China holding the world to ransom. They are saying we need these resources to develop our own economy and achieve energy efficiency, so go find your own supplies”, he said.

Mr Stephens said China had put global competitors out of business in the early 1990s by flooding the market, leading to the closure of the biggest US rare earth mine at Mountain Pass in California - now being revived by Molycorp Minerals.

New technologies have since increased the value and strategic importance of these metals, but it will take years for fresh supply to come on stream from deposits in Australia, North America, and South Africa. The rare earth family are hard to find, and harder to extract.

Mr Stephens said Arafura’s project in Western Australia produces terbium, which sells for $800,000 a tonne. It is a key ingredient in low-energy light-bulbs. China needs all the terbium it produces as the country switches wholesale from tungsten bulbs to the latest low-wattage bulbs that cut power costs by 40pc.

No replacement has been found for neodymium that enhances the power of magnets at high heat and is crucial for hard-disk drives, wind turbines, and the electric motors of hybrid cars.



posted on Sep, 15 2009 @ 01:47 AM
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i read about this somewhere else,,,,, and it said tthis was obama appeasing the steel workers union,,, and basically saving 5000 jobs

they made a good argument how it will cost us way more than 5000 jobs if china wants to get "nasty about it"

besides,,,, they will just go around this by shipping from different countries of origin

and now we will all be paying more for cheap tires,,,,


i still remember a quote from a book,,,,, wherein the 70's florida sugar farmers couldn't compete with sugar from s. america,,,, so a tariff was imposed

this was the 70's and is still in place today,,, and because of that tariff,,,, each and every american family will pay $$15 dollars more than needed PER YEAR as a result

we are now all being shafted for the few sugar farmers who couldn't compete,,,,,,, is that fair????



posted on Sep, 15 2009 @ 02:02 AM
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I don't know if it is politically right or economically - but god damn it we need to start
thinking about our peeps -



posted on Sep, 15 2009 @ 02:42 AM
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reply to post by mental modulator
 


I will have to study this further but I seriously doubt anyone in the Obama administration actually is doing anything that does not benefit them and their agenda somehow.



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