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Tuesday, September 15, 2009

Trade war unlikely between 2 powers

The Nashua Telegraph runs an AP piece looking at the fallout from the Obama Administration's decision to impose import tariffs on Chinese tires.
China quickly took its case to the World Trade Organization after President Barack Obama ordered steep additional U.S. tariffs on Chinese tires for three years, including 35 percent in the first year. The increases come on top of the current 4 percent tariff.

For China, barriers on its exports to the U.S. mean job losses at home. Still, private economists say they expect both sides to avoid a conflict that would harm producers in each country.

"The big message from China to the United States is think twice, think three times before repeating this kind of relief for a U.S. industry because if you do this again, we are going to hit you again," said Gary Hufbauer, a trade expert at the Peterson Institute, a Washington think tank.

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