On Friday, President Obama signed an import tax on imported tires from China. Well it didn’t take China long to retaliate. Not even 72 hours.
Doesn’t anyone remember how bad Smoot-Hawley worked out for us? I thought we were trying to avoid another Great Depression.
This cross fire of tariffs really shouldn’t surprise anyone, back in March the same thing happened when we provoked Mexico with the “Buy American” line in the stimulus bill.
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