A trade-war started by Obama is widening to include all cars made in the USA. Auto makers with plants in the US include Mercedes, BMW, Honda, GM, Chrysler, and Ford.
Since 2009, China consumes more cars than the US. Faced with trade tariffs, manufacturers building cars in the US will shift production to plants in China.
“The move shows that China is always capable of intervening politically in its markets,” said Juergen Pieper, a Frankfurt-based analyst with Bankhaus Metzler. “The automobile industry is very dependent on China for growth...".
Obama bails out GM in order to 'save' union jobs, then pushes China into a trade war. Now GM and Chrysler push production into China - bailout nullified! Obama strikes again.
China Sells Off US Treasury Holdings