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China: Nippon Steel Sues Toyota over Steel Sheet Patent
The conflict arises from Baoshan Iron & Steel, based in Shanghai, China, and a subsidiary of state-owned China Baowu Steel Group. It is listed on the Shanghai Stock Exchange. Toyota uses Baoshan steel sheet. It comes at a time when the Biden Administration is wrestling with US trade policy with China. The former administration started a trade war that cost US jobs, damaged the agricultural sector, and was a disaster for the US auto industry in China, the world’s largest vehicle market. It is also involved in a dispute about whether proposed lavish EV buyer tax credits should apply to imported and non-union made electric vehicles. Continue reading →