Thursday, June 21, 2012
Will China’s New Tariffs Really Harm Foreign Manufacturers Like GM?
Yesterday, the Chinese Ministry of Commerce announced that a new tax is imposed on U.S.-made vehicles with a motor capacity of 2.5-liters and above, effective today, December 15.
The so-called “anti-dumping” duties imposed not just on U.S. carmakers, but all companies that manufacture cars in the United States, were imposed because the Chinese authorities felt that U.S. imports were “damaging the local car industry”.
Most analysts, on the other hand, agree that this is China’s response to the World Trade Organization rejecting its appeal on U.S. duties on imported tires three months earlier.