[everlastinge]

Some more. I suppose Frank Purdue and Henry Ford will be rolling in their graves

Sept. 14 (Bloomberg) -- China announced a probe into the alleged dumping of American auto and chicken products, two days after U.S. President Barack Obama imposed tariffs on imports of tires from the Asian nation.

Chinese industries have complained that they’re being hurt by “unfair trade practices,” the nation’s Ministry of Commerce said on its Web site yesterday. The Beijing-based ministry is also looking into subsidies for the products, it said. It didn’t specify the imports’ value.

The European Central Bank said last week that rising protectionism may hamper world trade and undermine the global economy’s recovery from recession. The U.S. placed tariffs starting at 35 percent on $1.8 billion of tire imports from China, backing a United Steelworkers union complaint against the second-largest U.S. trading partner.

“While there’s friction, I suspect that the two nations will keep any disputes under control,” said David Cohen, an economist at Action Economics in Singapore. “They understand that they’re increasingly dependent as trading partners.”

Dumping is selling goods for less than the cost of producing them.

China’s commerce ministry said Sept. 12 that it “strongly opposes” the U.S. decision on tires and may refer the case to the World Trade Organization

China to Probe Alleged ?Dumping? of U.S. Products (Update1) - Bloomberg.com