This was definitely not the smartest move of the Obama administration. With all the threats - both veiled and unveiled - coming from China that they are seeking to diversify their reserves away from those held in U.S. Dollars, I just don't see what the purpose of these increased tire tariffs are going to serve but to antagonize someone that should not be antagonized. Trade protectionism was one of the prime events that deepened the Great Depression, and if the U.S. is looking to start a trade war with China, then we should not get mad when they decide that they aren't going to supply us with their surplus money to finance our consumer addiction. Obama should tread very carefully here. It's not wise to bite the hand that feeds.
Read the article HERE.
U.S. tire duties fuel trade tension with China
A U.S. decision to impose special duties on Chinese tires could trigger a host of trade complaints against Chinese products and a backlash from Beijing, creating tensions as Western nations seek China's support at a G20 meeting....
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