China today said it will impose punitive tariffs of 12.9% on GM cars and 8.8% on Chrysler cars, on top of the 25% tariff that already applies to imported cars, in what a Bloomberg article says is seen as retaliation for President Obama's decision to impose "duties of as much as 35 percent in September 2009" on tires imported from China.
If nothing else, the Chinese understand the concept of state-owned enterprises and their political implications.
