US senators try to avert trade crisis with China – Tom Baldwin

From the Times (link)

United States senators are holding last-ditch talks in Beijing today about averting a potentially devastating trade row in which punitive tariffs of 27.5 per cent would be imposed on all Chinese exports to America.

The Bush Administration is worried that what so far has been merely a war of words ” fuelled by populist protectionist rhetoric and anti-Chinese security fears ” could spiral out of control.

Business leaders are giving warning of profound global consequences and attacking the tariff plan as bordering on “economic suicide”.

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