This week, the US International Trade Commission announced that it will initiate an investigation regarding the perceived trade imbalance between the US and China, and "whether and to what extent China uses various forms of government intervention to promote investment, employment, and exports."
The investigation was requested under Section 332 of the Tariff Act of 1930 as amended by Representative Charles Rangel.
At the end of the investigation, the ITC will submit a report of its findings to the Ways and Means Committee of the US House of Representatives, but unlike antidumping or countervailing duty investigations, Section 332 investigations do not result in any actions against Chinese manufacturers or Chinese products.
It is likely that the ITC's conclusions will be in line with the usual accusations made against the Chinese, such as currency manipulations and subsidies; however, in the end, nothing concrete will come of it. One might say that this investigation is more political posturing than it is a plan of action. The US already has potential legislation against China looming in Congress and dumping suits against China as well. However, the predictable result of the investigation might be helpful to push through legislation in the US Congress against the alleged Chinese trade manipulations.