Free Newsletters - Space - Defense - Environment - Energy - Solar - Nuclear
..
. Energy News .




TRADE WARS
US, China trade battle heats up at WTO
by Staff Writers
Washington (AFP) Sept 17, 2012


Obama jabs Romney, says he 'walks the walk' on China
Cincinnati, Ohio (AFP) Sept 17, 2012 - President Barack Obama said Monday he liked to "walk the walk, not just talk the talk" on combating China trade abuses, in a sharp jab at his Republican foe Mitt Romney.

Obama, unveiling a new trade enforcement action against Beijing, struck a highly populist note as he sought to lock in his polling advantage over Romney in the crucial swing state of Ohio.

"I like to walk the walk, not just talk the talk," Obama said, renewing his charge that as head of investment firm Bain Capital, Romney was a pioneer in helping US corporations ship American jobs to low wage economies abroad.

"You can't stand up to China when all you've done is sent them our jobs. You can talk a good game, but I like to walk the walk, not just talk the talk," Obama said.

"And my experience has been waking up every single day and doing everything I can to make sure American workers get a fair shot in the global economy."

"We don't need folks who during election time suddenly are worrying about trade practices, but before the election are taking advantage of unfair trading practices," Obama says.

The Romney camp earlier dismissed Obama's latest trade challenge to China as "too little, too late" and the Republican has vowed to take a much tougher stance against the giant Asian economy if he wins the November 6 election.

US-China trade tensions heated up Monday as the US lodged a complaint over Beijing's automotive subsidies with the WTO and China countered with a filing over US duties on Chinese products.

Washington accused China of providing at least $1 billion in illegal subsidies to Chinese auto and auto parts exporters over 2009-2011, helping them beat US manufacturers in the huge US market.

The US Trade Representative said China's "export base" program, in which Beijing targets support for automotive manufacturers in designated regions to develop them as export centers, violated World Trade Organization rules.

The program has helped China increase auto and auto parts exports from $7.4 billion a year to $69.1 billion in the decade to 2011, the USTR said.

Washington asked the World Trade Organization to launch "consultations", the first step of the WTO process for resolving trade disputes.

China answered with its own new WTO complaint, saying Washington had unfairly applied anti-dumping and countervailing duties to two dozen Chinese products.

The cases were just the latest in the WTO complaints submitted by the world's two largest economies against each other.

Washington has now 10 cases against China at the Geneva-based WTO, most of them lodged in the past two years, part of an effort by President Barack Obama's administration to use trade rules to beat down Beijing's huge bilateral trade surplus with the US.

In the first seven months of this year China sold $174 billion more in goods to the United States than it bought from the US -- on pace to slightly surpass the 2011 full-year bilateral trade gap of $295 billion.

In February the Obama administration stepped up its campaign, establishing a special cross-agency unit, the Interagency Trade Enforcement Center, that was targeted at mainly Chinese exports to the United States.

But Monday's WTO move also came as Obama seeks to rebuff accusations by Republican presidential rival Mitt Romney that he is soft on China, an issue that could resonate in key November 6 election states like Ohio which have a strong auto industry presence.

Speaking at a campaign event in Cincinnati, Ohio, on Monday, Obama said: "When other countries don't play by the rules, we've done something about it."

"We brought more trade cases against China in one term than the previous (Republican) administration did in two. And every case we've brought that's been decided, we won."

Romney, meanwhile, retorted that Obama "has spent 43 months failing to confront China's unfair trade practices."

The newest US complaint builds on reports submitted to the government by the steel and auto parts industries in January this year, which alleged China had provided its auto parts makers $27.5 billion in subsidies over the decade to 2010.

The USTR focused on only $1 billion of those subsidies, to support Chinese companies in strategic auto export centers that have taken direct aim at the $350 billion US auto industry as it rebounds from a crippling recession.

"The facts in the case are indisputable. China is subsidizing its auto parts sector, blocking our exports, and causing significant harm to workers and businesses in our nation," said the Alliance for American Manufacturing, the steel and auto parts coalition.

"Our auto assembly sector, now back on its feet, could be undercut by China's cheating, causing irreparable damage to the heart of America's productive economy. Auto parts makers in America have already seen the effects of 25 percent surges in Chinese imports over each of the past two years."

China's complaint about US duties was broader, following US legislation in March that addressed WTO objections to the way the US made calculations to apply anti-dumping and countervailing duties on imports.

After the legislation was passed, Washington renewed duty programs on a large number of China products, and China has followed with a complaint in May and then another on Monday.

The newest raised a challenge to US duties on paper, steel, tires, magnets, chemicals, kitchen appliances, wood flooring, and wind towers.

.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





TRADE WARS
Seeking political gain, Obama fires new trade shot at China
Cincinnati, Ohio (AFP) Sept 17, 2012
President Barack Obama fired a new trade shot at China Monday, wooing blue collar workers and outmaneuvering his Republican foe Mitt Romney as Beijing took a pounding in the White House race. Obama professed to "walk the walk" in making China play by global trade rules while implying Romney preferred to "talk the talk," using the power of incumbency to file a new WTO enforcement case against ... read more


TRADE WARS
EP passes sulfur fuel, efficiency bills

France's Hollande outlines 'green' energy policy

Cuba outage points to infrastructure flaws

Panda Power Funds Breaks Ground on 758 MW Temple, Texas Power Plant

TRADE WARS
Iran says will hit Hormuz, US bases, Israel if attacked

Russia is facing strong competition from US shale gas expansion

Shell says to delay drilling for oil in Alaska

EU: Gazprom must play by rules

TRADE WARS
Sufficient wind energy available to meet global demands without damaging climate

Report backs greater role for wind energy

Wind could meet many times world's total power demand by 2030

High-altitude winds have large potential as a source of clean energy

TRADE WARS
DuPont Photovoltaic and Distributed Sun Collaborate on High Reliability Solar Modules

China 'deeply regrets' EU solar panel probe

EU hits Chinese solar companies with massive dumping probe

Constellation announces the completion of 16MW solar installation

TRADE WARS
Japan says to phase out nuclear energy by 2040

Nuclear Proliferation Risks Of Laser Enrichment Require Fuller NRC Review

Canada wants Indian nuclear reactor sales

Germany ready to help Japan on nuclear exit

TRADE WARS
EU confirms change in biofuel targets

France reconsiders plans to boost biofuel use

World Energy and Hydro Dynamics team up to promote SPR cavitation reactor technology

West Coast distributor expands biodiesel offering

TRADE WARS
Tiangong Orbit Change Signals Likely Date for Shenzhou 10

China Focus: Timeline for China's space research revealed

China eyes next lunar landing as US scales back

China unveils ambitious space projects

TRADE WARS
Researchers emphasize evaluation of tradeoffs in battling urban heat island

Next generation of advanced climate models needed

Climate change: Research questions 'worse drought' warnings

Ecosystems cope with stress more effectively the greater the biodiversity




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement