The Obama administration, under Congressional pressure to take a tough stance on Chinese trade policies, determined on Tuesday that Beijing had unfairly subsidized $514 million in aluminum products last year.
But the Commerce Department stopped short of making a stronger ruling on claims by American leaders and manufacturers that an undervalued Chinese currency gave Beijing’s exporters a lopsided price advantage.
The preliminary finding means that some Chinese aluminum importers must post cash deposits or bonds at a rate set by American officials.
The White House has been trying to strike a delicate balance ahead of the November elections that will be dominated by the weak economy. The Obama administration wants to address worries by lawmakers who say the United States is losing jobs because China’s currency policy keeps its currency undervalued against the dollar and makes Chinese products cheaper in the United States. But it also wants to maintain a good relationship with a country seen as crucial to dealing with global economic and environmental issues and with nuclear standoffs with Iran and North Korea.
CDT EBOOKS
Subscribe to CDT
SUPPORT CDT
Giving Assistant
Anti-censorship Tools
Click on the image to download Firefly for circumvention
