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September 4, 2009

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Home » Business » Economy

Tire levy case a test for Obama

THE United States trade office has submitted a recommendation about proposed tariffs on Chinese tire exports to the US market to US President Barack Obama.
But an official from the Office of the US Trade Representative told Xinhua news agency that "the recommendation is confidential. The president has 15 days to make his final determination."
This case is seen as a test for Obama's trade policy.
The US Steelworkers union, which represents workers at major US tire makers, filed a petition against China earlier this year for import relief and won a favorable ruling from the US International Trade Commission.
The panel recommended Obama impose a 55 percent tariff on the Chinese tire imports, which would be cut to 45 percent in the second year and 35 percent in the third before being removed.
The union asked for protection under Section 421 of the US trade law, which only requires petitioners to show that imports from China have disrupted the US market.
The ITC said it submitted its report to Obama in July.
The president's decision will show if he believes his own rhetoric about the dangers of protectionism in a weak global economy.


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