U.S. files trade complaint against China
July 9, 2012 Category Foreign trade, Weekly
The U.S. filed a trade complaint against China for imposing duties on more than USD3 billion in shipments of American vehicles, mostly made by General Motors and Chrysler.The Chinese duties cover more than 80% of U.S. auto exports to China, including Jeep’s Wrangler and Grand Cherokee, both made by Chrysler, and GM’s Buick Enclave and Cadillac CTS, according to a White House fact sheet. The U.S. complaint adds to an expanding list of grievances between the two nations on exports of rare-earth minerals, and solar panels and wind-turbine products sold in the U.S. The steps on trade by China and the U.S. in recent months have led some analysts to speculate the nations are headed for a trade war. China, the world’s biggest car market, announced plans on December 14 to impose anti-dumping duties as high as 12.9% on GM cars and 8.8% for Chrysler vehicles. China said U.S. taxpayer support of the two carmakers amounted to a government subsidy that was illegal under WTO rules, an allegation the Obama administration rejects. The U.S. government, which provided aid to the companies in 2008 in return for stock, holds a 32% stake in GM. The Chinese levies, which cover about 92,000 vehicles, also were applied to vehicles made by the U.S. units of BMW and Daimler, which pay 2% and 2.7% respectively.
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