‘Protectionist’ Obama Escalates Trade War, Slams China With Subsidized Aluminum Complaint
by Tyler Durden
ZeroHedge.com
Jan 12, 2017
With all the partisan narrative defining Trump as a tariff-setting, anti-trade, economy-buster, we thought it ironic that free-trade-wunderkid Obama just escalated trade wars by bringing his administration’s 16th trade-enforcement complaint against China with WTO, urging tariffs on subsidised Chinese aluminum, after accusing them of funneling artificially cheap loans from state-run banks to producers.
Despite declining global aluminum prices, China has increased production 154% over the past eight years while upping capacity by 243%, according to the U.S. government.
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