China soon will slap a penalty on General Motors' China unit for monopolistic behavior, according to media reports out of China today. Initial reports from the China Daily newspaper didn't name the automaker, but Bloomberg, citing people familiar with the matter, reported that GM China was the target.
The top U.S. steel makers'
association said it has been in contact with President-elect
Donald Trump's transition team as
the industry seeks tougher trade defenses under his incoming
administration. Trade restrictions are tantalizing for an American steel
industry struggling with foreign competition, notably Chinese companies, but analysts say
new measures could trigger a backlash from U.S. automakers and
other consumers who want unfettered access to overseas markets.
BEIJING -- Next year, Beijing will ban
highly polluting old cars from being driven whenever air quality
alerts are issued in the city or neighboring regions, the
city's environmental protection bureau said. China has adopted various measures over the years to reduce
the blankets of smog which shroud many of the country's northern
cities in the winter, causing hazardous traffic conditions and
disrupting daily life.