Obama pledges more trade pressure on China
US President Barack Obama said today he would step up pressure on China and other countries that unfairly subsidise exports to the United States.Updated: Jan 25, 2012 11:25 IST
US President Barack Obama said on Tuesday he would step up pressure on China and other countries that unfairly subsidize exports to the United States.
Announcing a push to shore up American manufacturing and create jobs, he said he would establish a new government body dedicated to fighting countries which subsidize exports to the United States.
He also pledged more vigilance against imports of counterfeit and unsafe products from abroad. "Tonight, I'm announcing the creation of a Trade Enforcement Unit that will be charged with investigating unfair trade practices in countries like China," he told Congress in his annual State of the Union address.
"I will go anywhere in the world to open new markets for American products," he said. "And I will not stand by when our competitors don't play by the rules. We've brought trade cases against China at nearly twice the rate as the last administration -- and it's made a difference."
"It's not right when another country lets our movies, music, and software be pirated. It's not fair when foreign manufacturers have a leg up on ours only because they're heavily subsidized."
First Published: Jan 25, 2012 08:45 IST