Bowing to American pressure on the eve of high-level talks to reduce
economic tensions, China agreed Thursday to terminate a dozen different
subsidies and tax rebates that promote its own exports and discourage
imports of steel, wood products, information technology and other goods.
Thanks a lot. The Bush Administration crows that:
This outcome represents a victory for U.S. manufacturers and their workers
Um, not if they are consumers too, as they all are. And not if their company buys any inputs from Chinese manufacturers.
Napoleon said to never interrupt an enemy when he was making a mistake. I don't consider China an enemy, but it just flabbergasts me that the Chinese taxpayers and consumers see fit to subsidize lower prices for our consumers, and we feel the need to stop them. More here and here.