metronews.ca
.

x

China to hit US auto imports with duties

more
  GETTY IMAGES

The Cadillac Escalade, made by General Motors Co., would be subject to the proposed duties.

More about money
Skechers to shell out $50 million for lying to you about Shape-ups shoes
George Zimmerman has raised twice as much as Trayvon Martin's family
What does Friday's JPMorgan news mean for financial reform?
TV picks: Monday, April 30
GM’s strategy

GM, the U.S. automaker with the largest presence in China, said it would work with representatives of both the U.S. and Chinese governments to try to find a solution “consistent with a constructive global trade environment.” GM expects to sell about 11,000 SUVs and large cars built in the United States to China this year. 
Published: December 18, 2011 6:44 p.m.
Last modified: December 18, 2011 8:39 p.m.
(1)
Print article
                  Text size
China will impose punitive duties of up to 22 percent on large cars and SUVs exported from the United States, China’s Commerce Ministry said last week. It’s the latest in a series of trade disputes between the world’s two largest economies. The new duties take aim at exports valued near $4 billion this year and models that include the Cadillac Escalade made by General Motors Co., the Jeep Grand Cherokee from Fiat SpA affiliate Chrysler Group LLC and SUVs from Daimler AG’s Mercedes and BMW AG.

China’s action comes at an awkward time for U.S.-China relations, with China’s currency and trade policies becoming a focus of criticism for U.S. presidential candidates and as China’s growing diplomatic and military influence raises concern.

Chinese officials said the U.S.-built SUVs and large cars were being dumped on the Chinese market and causing “substantial damage to China’s domestic industry.” Vehicle exports to China had already been subject to a 25 percent tariff and the new tariff will be in addition to that duty. The decision comes after China lost a two-year fight over tire exports to the United States in September.



Add your comment  

_

Comments are not reviewed before posting. If you believe a comment has violated the commenting guidelines, please alert a moderator using links provided.

Facebook
Twitter
Stumble upon
RSS

F E A T U R E D   S P O N S O R S

X