Thursday, December 15, 2016
Associated Press
DETROIT
A Chinese state-run newspaper reported Wednesday that the government will penalize an unidentified U.S. automaker soon for alleged anti-competitive behavior. With signs pointing to General Motors, shares of the Detroit company fell 2 percent.
The China Daily quoted the government’s top price regulator as saying an automaker would be fined for “impeding competition.”
Some trade experts say China might single out GM, the U.S. automaker with the largest sales in China, as retaliation against U.S. President-elect Donald Trump, who has suggested he might formally recognize Taiwan as an independent nation and impose trade tariffs on Chinese goods.
A government official warned Wednesday that recognition of Taiwan could undermine relations between Beijing and Washington.