WASHINGTON — The Obama administration, under congressional pressure to take a tough stance on Chinese trade policies, determined yesterday that Beijing unfairly subsidized $514 million in aluminum products last year.
The Commerce Department stopped short of making a stronger ruling on claims by US leaders and manufacturers that an undervalued Chinese currency gives Beijing’s exporters a lopsided price advantage.
The preliminary finding means that some Chinese aluminum importers must post cash deposits or bonds at a rate set by US officials. It comes as the White House attempts to strike a delicate balance ahead of November congressional elections that will be dominated by the weak US economy.
