Tuesday, September 18, 2012
The Wall Street Journal reports today that General Motors executives have asked the Treasury Department to sell its stake in the giant automaker. The administration has refused.
Oddly enough, today we also learned that the Obama administration is launching a complaint at the World Trade Organization over China’s allegedly unfair subsidizing of its auto industry. The United States will charge the Chinese government with subsidizing auto and auto parts producers from 2009 and 2011 to the tune of $1 billion. (Protectionism, it seems, always becomes a vital component of economic policy when a candidate is campaigning in Ohio.)