The Obama administration's decision to levy tariffs of up to 35 percent on imported Chinese tires and Beijing's threats of reprisal against some U.S. products have raised concerns about a sudden escalation of protectionism between two of the world's largest economies.
Roughly 17 percent of tires now purchased in the United States come from China. U.S. officials said they were obligated to act after a finding by the U.S. International Trade Commission that an improper increase in China's imports caused domestic U.S. tire factories to close
Read Full Article »