Thermoplastics coming from the US, the EU, Taiwan and Japan are sold at prices below fair market value, says Beijing.
China has launched an “anti-dumping” investigation into chemical imports, in what appears to be a response to trade barriers introduced by the EU, the US and other countries.
Polyoxymethylene copolymer, a plastic widely used in electronics and cars, is being sold at an unfairly low cost in China, therefore causing damage to domestic companies, said China’s Ministry of Commerce.
The investigation will focus on imports from the US, the EU, Taiwan and Japan, and could take up to 18 months to complete.
And just like when Trump did it, this bullshit tariff war is going to hurt consumers of the products, not the demagogues conducting the war.
The big difference is that this time, the EU and other countries have joined in so more regular citizens also get to suffer for the chest thumping of powerful jerks 😮💨🤬
If countries dump things on the open market (electric cars or steel) then industries get destroyed in those countries . When industries get destroyed a lot more people get affected.
What do you call the $80 billion bailout of US automakers following the 2008 recession?
“Fair, open market activities”?
That was a very successful bailout, government got all its money back, lots of jobs were saved, and competition was maintained to the benefit of consumers.
I agree, but it’s by no means adherence to free market anti-subsidization principles.
The bank bailouts is where they went wrong. The car industry didn’t cause the financial crisis, the financial institutes did, those are the ones that should have been allowed to crash IMO.
It’s a misunderstanding that it would have been damaging to the economy to allow them to crash. Iceland did just that, they were among the hardest hit, but they were first to recover.
The amount of money to keep the system going, is NOT dependent on the existence of irresponsible money losing financial institutions.
Whoever came up with that argument to save the banks, is a straight up con man.Saving an industry or company under extraordinary circumstances they didn’t cause, is patching an imperfect free market to minimize harm is fair, and we all know that free markets are never perfect. Claiming otherwise is delusional.
Saving the ones that caused the harm by acting extremely irresponsibly is idiotic and unjust.An “imperfect free market” saved by $80 billion in bailouts.
For fucks sake
Free market economy is inherently imperfect, and needs to be both regulated and adjusted by government.
Stopping a full-on great depression?
Imports from Taiwan, eh? Sounds like China just admitted that Taiwan is independent to me.
This is the best summary I could come up with:
China has launched an “anti-dumping” investigation into chemical imports, in what appears to be a response to trade barriers introduced by the EU, the US and other countries.
Last Tuesday, Washington announced sharp tariff increases on Chinese goods, including computer chips and solar panels.
US President Joe Biden has imposed a border tax of 100% on electric vehicles, quadrupling the previous charge.
Other probes concern Chinese electric vehicles, solar panels, wind turbines, and medical devices.
In response to Sunday’s announcement, the Commission said it would carefully study the contents of the Chinese investigation before deciding how to proceed.
“We expect China to ensure that this investigation is fully in line with all relevant World Trade Organization rules and obligations,” a spokesperson said.
The original article contains 290 words, the summary contains 122 words. Saved 58%. I’m a bot and I’m open source!
