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The White House is planning a major announcement this week involving two complaints to the World Trade Organization accusing China of unfair trade practices, two senior administration officials said Sunday.
The United States is taking formal legal action after months of urging China to crack down on pirated copies of U.S. films, music and software brought little consequence, the officials said.
Originally posted by Dallas
China's got to be fuming especially the Tariff issue as that has the potential to really sting them on export numbers. an extreme example of how might be:
Sold at Walmart (example):
......................China Made Shirt: 10.00
........................USA made Shirt: 20.00
US Duty added China made shirt: 21.00
In Beijing, the Xinhua News Agency reported that that the Chinese government "expressed on Tuesday great regret and strong dissatisfaction" at the U.S. decision to file the complaints.
Dollar Falls on Worry of Damaged Trade Relations with China:
Chinese Ministry of Commerce Wang Xinpei responded by saying that "China very much regrets the decision and is strongly displeased", and such complaint will "severely damage" trade relations.
"not a sensible move for the US government to file such a complaint"