Tradewar Watch 7: More Shots Fired
China’s Ministry of Commerce on Friday announced it would formally launch an investigation into subsidies on imports of some automobiles from the United States, Reuters reports. With all the bailout money sloshing around, China won’t have a hard time coming up with evidence.
The announcement is seen as a tit-for-tat after the U.S. imposed anti-dumping duties on Chinese-made steel pipe after finding that producers benefited from Chinese subsidies.
China had previously announced it would launch investigations into poultry and auto imports from the U.S. after the U.S. slapped punitive tariffs on imports on Chinese-made tires. Gasgoo reports a steady growth of car imports to China, especially in the SUV department.
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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"About $1b worth a year …" Which works out to around 40 thousand units into a 10 million plus unit per year market. Yi ha! Isn't there already a trade war under way, and don't we know which side is winning?
With the loan from China we got which was several hundred billion dollars , we better not bite the hand that feeds us.