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by John Stossel
The administration continues their relentless march towards a Trade War with China:
Trade disputes between Beijing and Washington over exports of tires, chickens, steel, nylon, autos, paper and salt are multiplying and further damaging the already tense relationship between the two economic powers.
The Obama administration says it only aims to protect the country's rights, but the Chinese counter that the United States started the whole thing by launching an unprovoked attack.
That's from today's Washington Post. As we blogged about before, the Chinese are probably right that we started it:
The current tensions began in September, when the United States imposed a staggering 35 percent import fee on tires from China.
Economically speaking, the tariff was minor; it only applied to a couple of billion dollars in annual imports, less than 1 percent of the total annual trade volume between the two countries. But it infuriated the Chinese, who felt it was a political concession to U.S. labor unions rather than a legitimate punishment for something they did wrong.
Read more: http://stossel.blogs.foxbusiness.com/2010/01/04/free-trade-watch-3/#ixzz0bjFzlDTY
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