Paper Tariffs — Will Commerce Be Swayed?
Complicating matters further, the chairman of Cerberus Capital Management—the private equity investment firm that counts NewPage among its holdings—is John W. Snow, Secretary of the Treasury from 2003 to 2006. There has been no evidence, though, to suggest that Snow’s connection to Dayton, OH-based NewPage provided any special consideration in Commerce finding in favor of the petition.
The game of political football is difficult, Lindgren says, factoring in that the administration has put a face on its trade deficit in the form of China.
“It’s an uphill battle,” Lindgren says. “This bias against China is a problem. And, it’s not that the U.S. interests are furthered by this petition—far from it. The damage that’s being done is extremely real. The stupidity of this process is extremely real. What we’ve got to deal with is the political and emotional background of an anti-China backlash. It’s a lot to overcome.” PI