Life is a highway, a Chinese highway
By Andrew Snyder,Today’s Financial News – Posted November 6, 2009
Obama just imposed another set of strong tariffs on imported Chinese goods. It is proof the situation is getting tense. Take advantage of the move and buy Chinese.
Baltimore – (TFN): Washington is getting serious about leveling trade with China. Call it a desperate tool to fix our trade imbalance. Or call it bowing to American manufacturers. Just don’t call it good news for growing trade tensions.
Obama is going to get some mighty weak handshakes when he heads to Asia in a few days. After imposing the largest-ever tariff on imported Chinese pipe (almost 100%), Beijing is far from happy.
As our dependence grows on China to fund the nation’s debt, this is not a good time to tick off our most important trading partners.
Unfortunately, given the relative strength of the Chinese economy, Obama’s latest trade sanction will hurt more Americans than it will Chinese. We’ve got unemployment at 10.2% and they have an economy growing by a percentage almost as high.
Discussion
What do you think? Leave a comment. Alternatively, write a post on your own weblog; this website accepts trackbacks [trackback url].