Sept. 14 (Bloomberg) -- China announced a probe into the alleged dumping of American auto and chicken products, two days after U.S. President Barack Obama imposed tariffs on imports of tires from the Asian nation.
Chinese industries have complained that they’re being hurt by “unfair trade practices,” the nation’s Ministry of Commerce said on its Web site yesterday...
Full article at http://www.bloomberg.com/apps/news?pid=20601087&sid=a9igRzOC55wE
My comment:
As a nation now with massive deficits and a financial system near collapse through irresponsible behaviour motivated by greed, the USA is dependent on the good will of China.
Blaming China for the USA's problems and slapping tariffs on Chinese exports to the USA is NOT the solution. There will be only one loser from this. The USA and its dollar.
I see Dow futures are down 100 points. No surprise.
