Obama to launch trade complaint against China overSeptember 17, 2012 - 12:38 AMT PanARMENIAN.Net - U.S. President Barack Obama will launch a trade complaint against China over what his administration says is Beijing's unfair government backing of its auto industry, a White House official said on Sunday, Sept 16, according to Reuters. Obama will announce during a campaign tour of Ohio on Monday that he is initiating a case against China at the World Trade Organization over allegedly illegal subsidies for automobiles and auto parts, the official said. The move allows Obama to take a stand on China and advance the interests of a major job-providing industry in a state that could tip the balance in a close election. His opponent, Mitt Romney, has attacked Obama for what he says is an overly cautious approach to pressuring China into observing international norms for trade, foreign exchange, and patents and trademarks. Ohio relies heavily on the auto industry and is a politically important swing state. "The key principle at stake is that China must play by the rules of the global trading system," the official said. "When it does not, the Obama administration will take action to ensure that American businesses and workers are competing on a level playing field." Obama has said Beijing is abusing trade laws by imposing more than $3 billion in duties on U.S. auto exports. In addition to launching the subsidies case, the president is taking the next formal step in the World Trade Organization to protest those duties, the official said. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |