World Bulletin / News Desk
China said it has been made a victim of U.S. electoral politics after Washington launched an international trade case alleging that Beijing has been unfairly subsidising automobile and auto parts exports.
U.S. President Barack Obama announced the World Trade Organization (WTO) case against China over allegedly illegal subsidies for automobiles and auto parts during an election campaign stop in Ohio on Monday.
At around the same time, Beijing filed a complaint against U.S. duties on many Chinese exports, in the latest example of tit-for-tat trade disputes filed between the world's two largest economies.
In its first official comment on the complaint, issued on Tuesday evening, the Chinese Ministry of Commerce was unusually blunt in blaming the case on the race for the White House.
"In the midst of an election race, the United States chose to announce this news in Ohio, an automobile production area, showing that the U.S. took this step against China out of considerations of electoral politics," an unidentified Chinese commerce official said on the ministry's website.
"We express our opposition to this," said the official, adding that China would deal with the U.S. request for consultations in keeping with WTO rules.
This year, the United States has also pursued anti-dumping and countervailing duty cases against Chinese-made solar panels and wind turbine towers in response to industry petitions.
Obama's latest trade enforcement steps come as he and Republican rival Mitt Romney vie for a few important states, including the auto manufacturing state of Ohio, that could determine the outcome of the Nov. 6 presidential election.
U.S. steelworkers and other union groups had pushed for action at the WTO to stop what they said was a flood of unfairly subsidised Chinese auto parts.
Republicans, including Romney, who has accused Obama of not being tough enough with Beijing, cast the move by the Democratic White House as a blatant effort to sway votes in an election battleground state.
Commerce Ministry spokesman Shen Danyang said at a press briefing on Wednesday that the WTO case filing number on China's complaint showed it preceded the U.S. complaint, suggesting it was Washington playing tit-for-tat with trade policy, not Beijing.
"Looking at the sequential order of the two case numbers, we can clearly see the United States' political goal," Shen said.
Foreign trade minister says Trans-Atlantic Trade and Investment Partnership negotiations should stop
Overnight lending rate gets cut by 25 points to 8.50 percent; overnight borrowing rate remains unchanged at 7.25 percent
"It appears that a programme of public spending in Germany would not be the most appropriate tool to help give a strong stimulus to the international economy," the central bank said following a study into the issue.
The 0.3 percent quarterly gain was in line with average forecasts compiled by data company Factset.
Qatari Ambassador to Ankara says bi-lateral trade could double through committment to undertake further investments in Turkey
Radical cleansing will start a new era in Turkey, says the head of the Turkish Cooperation and Development Agency (TIKA)
EU Commissioner for Jobs, Growth and Investment and Competitiveness Jryki Katainen told reporters "we should forget this phrase" when asked if that meant granting market economy status to China.
Militancy has reduced revenue from oil industry by half, senior official says
The grant was signed Monday in Nairobi to mitigate impact of forced displacements on refugee hosting communities in East Africa
The EU Trade Commissioner Malmstrom made the comment while speaking to Chinese students in Beijing ahead of a China-EU summit.
Trade Ministers Meeting in Shanghai concludes with pledge to push efforts toward trade liberalization and facilitation
Brexit raises uncertainty for consumer, investor confidence, ratings agency says
Bank of England Governor Mark Carney eases lending rules after vote for Brexit
Banca Monte dei Paschi di Siena, or BMPS, is among the banks at the forefront of those concerns with gross bad loans amounting to 46.9 billion euros ($52 billion).