US business lobby likes Obama plan on China
By CHRIS OLIVER
A US business lobby group voiced support Tuesday for President Barack Obama's proposal for export financing for US companies competing against Chinese rivals in third-country markets.
The Washington-based US-China Business Council said references made by Obama during his State of the Union address Tuesday on the issue of export financing would foster a more "level playing field" with Chinese companies.
However, the group also repeated criticism of the Obama administrations punitive duty on Chinese tires, saying: "We disagree that the tariffs on imports of low-end Chinese tires have had any positive effect on American jobs or the American economy.
“All evidence suggests that the beneficiaries have been other low-end tire producers in Asia and Mexico.”
Dow Jones Newswires
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