Smoot-Hawley Redux?
It looks like it could go that way:
BEIJING (AP) — China announced anti-dumping duties of up to 105.4 percent Friday on imports of U.S. chicken products, adding to trade strains with Washington.
The case comes amid mutual accusations of protectionism by Beijing and Washington which both say will hurt efforts to end the global economic downturn
[...]
Beijing launched the investigation in September after Washington raised duties on imports of Chinese-made tires despite vigorous opposition from China.
The two governments also are embroiled in disputes over access to each other’s markets for steel pipes, movies and books and other goods.
Yep, we’re gunna double exports by 2015, OK. That’w what the President said.
Typical Chicken and egg problem……
The Chinese will cooperate, because of the deep respect and love they feel towards The Great Leader, The Messiah, The Protector of the Poor, President Obama!
I’m sorry Eric, i didn’t realize that was his new title. I thought it was Mr. President?
2008 we ran a 700 billion dollar trade deficit with the world mainly China. I think a little Smoot- Hawley is in order . Wake up. where the hell do think the jobs went? We got nothing to lose.