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ROSEMONT, Ill. (AP) - Caterpillar Inc. CEO Jim Owens said Wednesday that protectionists in Congress who want to "bully" China by imposing a tariff on Chinese imports risk serious global economic consequences if they succeed.
Speaking at a gathering of U.S. manufacturers, Owens called on lawmakers to stop bashing China over the U.S. trade imbalance and reject a bill to slap a 27.5 percent tariff on its goods if it doesn't halt what some call the manipulation of its currency to gain a trading edge.
Continuing the "scapegoating" of China, he said, ultimately could cause a worldwide recession.
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