WTO to China: Stop Tariffs on Imported Car Parts. China to WTO: Yeah, Right
The AP reports that the World Trade Organization (WTO) has ruled against China regarding its commercial practices in the area of imported auto parts. According to the WTO, Chinese tariffs "accord imported auto parts less favourable treatment than like domestic auto parts." The tariffs make foreign parts more expensive, thus providing an incentive to manufacture parts locally (in China). The complaint was brought jointly by the U.S., Canada and the European Union, all of which have large manufacturing bases in the car industry, whose car industries have bled (sent?) thousands of jobs offshore over the last few years. The WTO is now calling on China to "to bring these inconsistent measures as listed above into conformity with its obligations." Don't hold your breath; China isn't exactly known for playing fair, and the WTO is as slow and toothless as a Giant Musk Turtle. "WTO cases tend to take years before retaliatory sanctions can be authorized, after the ruling is released," states the AP. By then, the Chinese parts markers will have copied all the parts anyway.
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Mirror tariffs will cure this real quick.
China plays to win - economically, politically, and militarily. The United States is basically run by Wall Street anymore, which plays to maximize short term profits at the expense of any other issue. They are completely blinded by greed. That is why nothing is done about illegal immigration, terrible trade deals, we pay to be the world's police (to expedite trade at all costs), and why they are now opening our trucking industry to third world carriers. Washington DC cares about you only enough to get your vote.