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Monday, September 17, 2012

ALERT: U.S. to launch automotive trade case against China

BREAKING NEWS ALERT September 17, 2012
 
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U.S. to launch automotive trade case against China
The United States will launch a trade complaint against China over what the Obama administration says is Beijing's unfair government backing of its auto industry, a White House official said. President Obama will announce during a campaign tour of Ohio today that he is initiating a case against China at the WTO over allegedly illegal subsidies for automobiles and auto parts, the official said.
 story 
 image The White House says China's government is providing prohibited subsidies to auto and auto parts producers in 12 designated "export bases." The subsidies were worth $1 billion between 2009 and 2011, U.S. officials say.
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