US taxes Chinese wind turbines

The Obama administration is to set tariffs of as much as 26 per cent on Chinese wind turbine tower imports to combat subsidies. The tax is designed to help American manufacturers, who are struggling to compete with China, who are providing subsidies to their wind companies.

President Obama has stirred up tension between the countries by saying he was not going to stand by ‘when competitors aren’t following the rules’. China earlier in the week accused Obama of taking protectionist steps after increasing import taxes on solar panels.

Significant pressure has been put on the US government to introduce the taxes however, as US companies have been working together for their cause. Internationally however, it could cause problems for the US; China complained to the World Trade Organisation recently over the increase in solar import tax to the US.

Obama has also announced support for an export-import bank, promoting sales of American goods. He said, "I'm going to go anywhere I can in the world to create new markets for American goods. And we're also not going to stand by when our competitors aren't following the rules. We've brought trade cases against China at nearly twice the rate of the previous administration. We've set up a Trade Enforcement Unit to investigate unfair trade practices that are taking place ... anywhere in the world. Anytime other countries skirt the rules or put our workers and our businesses in an unfair position, we're going to take action."