Trade Wars

Beijing Review, July 16, 2012

Russo quote extract:

Bill Russo, who is currently a senior advisor at Booz & Company, and formerly the vice president of Chrysler Northeast Asia at Chrysler LLC. said, "The latest round in the escalating trade wars between the U.S. and China has taken an unambiguously protectionist turn. By targeting SUVs [sport utility vehicles] made in the United States, there is hardly a basis for calling this a measure that is designed to correct any unfair advantage held by the American auto industry. The companies impacted are Chrysler and to a lesser extent General Motors (GM), and their imported products are not directly competing with Chinese automakers, as they occupy far higher price positions even before the tariff. The Obama administration is perfectly justified in challenging the WTO compliance of this measure, as it is clearly being levied as a punitive measure."

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