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THURSDAY, NOVEMBER 26, 2009
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Obama Slaps Stiff Tariff on Chinese Tires

China threatens retaliation after president moves to protect US tire industry

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(Newser) – President Obama has imposed tough new tariffs on the import of Chinese-made tires, the Wall Street Journal reports. The 35% import tariff comes in response to industry complaints that Chinese-made tires are flooding the US, jeopardizing thousands of jobs. China attacked the decision, saying it violated trade rules, and threatened retaliation for what it labeled "a serious act of trade protectionism."

Administration officials said the US Trade Commission had determined that China—which has tripled its tire exports to the US since 2004—was violating its obligations under trade agreements. Obama "decided to remedy the clear disruption to the US tire industry based on the facts and the law in this case," White House spokesman Robert Gibbs said. Lawyers expect the move to unleash a surge of requests from other industries for temporary protection from Chinese imports.

A Chinese worker moves large tires at an assembly line for buses made by Chinese auto manufacturer Foton Motor Group in Beijing, China yesterday.
A Chinese worker moves large tires at an assembly line for buses made by Chinese auto manufacturer Foton Motor Group in Beijing, China yesterday.   (AP Photo/Ng Han Guan)
A Chinese worker moves large tires at an assembly line for buses made by Chinese auto manufacturer Foton Motor Group in Beijing, China yesterday.
A Chinese worker moves large tires at an assembly line for buses made by Chinese auto manufacturer Foton Motor Group in Beijing, China yesterday.   (AP Photo/Ng Han Guan)
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The president sent the message that we expect others to live by the rules, just as we do. - United Steelworkers International President Leo W. Gerard

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8 comments
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SilenceDogood
Sep 12, 09 8:44 AM CDT
Just what we need, protectionist legislation against the only nation buying our junk treasury bills. Obama accepted the United Steelworkers campaign contributions, now it time for payback. Reply
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Timinator2K
Sep 12, 09 12:52 PM CDT
Careful, Barry, you might make our new masters and owners angry.
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youngblood
Sep 12, 09 8:48 AM CDT
Good for Barack!! I hope he does it with the other industries that are gong to put in their request for protection from Chinese imports! Reply
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IN RESPONSE:
SilenceDogood
Sep 12, 09 9:01 AM CDT
Well if that occurs, the Chinese will stop buying our notes, we reduce our purchases of Chinese goods, the pissing contest escalates, the American economy tanks even more, the recession is prolonged, the Treasury will just prints money anyway, the Chinese will retaliate in some form, the dollar will be diluted, hyper inflation will occur, a stagnant economy is prolonged, Obama will appear like Carter Part Deux, a Republican Ronald Reagan remake will be found, conservative values will be embraced….
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IN RESPONSE:
TRU2TM3
Sep 12, 09 7:10 PM CDT
@silencedogood, do you really think the Chinese will stop investing in, historically, the best investment you can make? Just because we added a tariff to their shitty tires? After Goodyear lays off 5000 workers in Feb., Firestone lets 450 go in April, you would think applying a tariff on an import with a running history of poor production... http://www.industryweek.com/articles/u-s-_authorities_suspect_dangerous_faults_in_chinese_tires_14481.aspx
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