China Condemns U.S. Tariffs on Tires as Protectionism
Via FOX News
Last week Obama back tracked on his own commitments and slapped 35% punitive tariffs on all car and light truck tires entering the United States from China.
Protectionism is shortsighted even for Obama. With mounting debts during Obama’s watch and CBO projections that the U.S. National Debt will nearly double over the next 10 years, who will be willing to continue to finance Democrat-Socialists spending spree?
In May, Obama said during a C Span interview “were out of money now” when asked about the exploding USA deficit. In August I wrote here since Obama took office in January, his deficit spending will exceed all of Bush’s deficits. In 2009, federal spending per household is $30,958 representing the largest expansion of government spending since 1952 and up 57% since 2001
China is the single largest creditor of the USA owning just over $800 Billion Dollars in July, 2009 followed by Japan.
Obama slapping tariffs on Chinese tires entering the USA is yet another further illustration of his naivety and lack of any coherent foreign policy.
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