Global trade tensions ratcheted up yesterday as the US opened an investigation into Chinese steel imports and clashed with the European Union over chickens.
The US steel pipe investigation is likely to irritate Beijing, which last month accused its biggest trading partner of “rampant protectionism” after President Barack Obama imposed a heavy duty on imported Chinese tyres.
That decision rattled many economists, who feared that Mr Obama would backtrack on his free trade promises in an attempt to pacify the politically important US unions. Resentment towards China has been growing in the US as the recession pummels manufacturers.
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