Issue to watch: China Moves to Retaliate Against U.S. Tire Tariff

Saw a little bit about this yesterday on Fox News. Interesting in a number of ways... China is backing a lot of our dollars right now, plus we buy a lot of their products and vice versa. Is Obama going to back down under pressure? Is this something Obama's White House plans to do more often? Is this something Obama plans to continue to do just for the unions or will it be universal? What are the long-term implications of the tariffs (on both sides of the world). I'd suggest, if you're interested, that you do a search and read an assortment of articles. - Editor

The following is from the New York Times:

China Moves to Retaliate Against U.S. Tire Tariff

HONG KONG — China unexpectedly increased pressure Sunday on the United States in a widening trade dispute, taking the first steps toward imposing tariffs on American exports of automotive products and chicken meat in retaliation for President Obama’s decision late Friday to levy tariffs on tires from China...

http://www.nytimes.com/2009/09/14/business/global/14trade.html?_r=2&ref=todayspaper