Maybe something for tomorrow
US to Announce China Trade Enforcement Action
Published:Monday, 19 Sep 2011 | 8:43 PM ET
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U.S.trade officials will announce a major trade enforcement action againstChina on Tuesday, according to an advisory from the U.S. TradeRepresentative's office.
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Theadvisory, which was obtained from a business group, said U.S. TradeRepresentative Ron Kirk "will hold a press conference to announce amajor trade enforcement action against China." It gave no other details.
One possible action could target China's export restrictions on rare earths, which are crucial for global electronics production and the defense and renewable energy industries.
They are also used in a wide range of consumer products from iPhones to electric car motors.
TheUnited States, the European Union and Mexico recently won a caseagainst China for similar restrictions on exports of raw materials usedin steel and other industrial products.
China appealed that decision and a final ruling is still months away.
Inrecent weeks, Democrats have raised alarm about Chinese solar panelsubsidies that they said are driving U.S. producers out of business.
They also pressed Kirk's office to investigate charges China is pressing GM [GM23.05
0.44(+1.95%)
] to turn over technologies for itselectric car, the Chevrolet Volt, in order for it to qualify forgenerous Chinese government subsidies to encourage consumers to buy it.
ManyDemocrats also have long complained about China's currency practicesand have urged the U.S. Trade Representative's office to bring a case.
Republicanpresidential candidate Mitt Romney recently criticized President BarackObama for not doing more to push China to raise the value of its yuanagainst the dollar.
Acurrency case would be a major departure for the Obama administrationafter refusing to formally label China as a "currency manipulator" in aTreasury Department report.