US Elections Heat Up, China Trade Tensions Rise
September 20, 2012
Trade tensions between China and the United States escalated this week, with both countries filing international trade complaints against each other. And as the U.S. presidential campaign heats up, China is increasingly finding itself the focus of attention.
President Barack Obama and his opponent Mitt Romney are talking tough on trade with China.
Earlier this week, Obama announced a new World Trade Organization case over Chinese automobile subsidies. He also brushed off accusations from his opponent that he is not doing enough to pressure China on unfair trade practices.
Beijing quickly responded with a WTO case of its own, challenging a new U.S. law that allows duties on subsidized goods from China.
"Both sides should resolve our differences in an appropriate manner on the basis of mutual respect and equal benefits, through dialogue and consultation," said Foreign Ministry spokesman Hong Lei. "We oppose the politicization of the issue, and the engagement in trade and investment protectionism.”
China’s Commerce Ministry responded to Washington’s WTO action more directly, arguing that Beijing is becoming a victim of election politics. But with the two countries’ economies so closely intertwined, analysts say it is becoming difficult to keep politics out of trade policy - especially as the U.S. economy continues to struggle.
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2013-11-25
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2013-11-25