Obama is trying to build the US manufacturing base and increasing exports to China could go a long way.
But if China sets its sight on auto manufacturing, the job losses in the US could be staggering.
High stakes indeed.
Update: the WSJ is out with some of the details of the complaint.
A senior Obama administration official said China is unfairly imposing $3.3 billion of antidumping and countervailing duties on U.S. automobile exports covering some 80% of U.S. exports to China. The official said the action is intended to ensure China plays by the same rules as everyone else, a major theme of Mr. Obama’s re-election campaign.
