Thursday, September 29, 2016

Why be afraid of a trade war?

Before you dismiss such a question, you better read Tariffs For Survival Or Profits For Multinationals. The arguments used are even more valid after a year and a half. President George W Bush has proven he is a bigger whimp than his father. The reversal on his effective relief for the steel industry is a decision made by a man who capitulates to the real terrorists. Just savor the joy coming from the other side of the pond. "We in Europe, by standing together, by using the World Trade Organization and saying 'we're going to uphold the rules of world trade,' we've played our hand very, very effectively indeed." -- British Trade Secretary Patricia Hewitt, on SKY TV News. "These sanctions ... were there as a tool for compliance. They've complied and the sanctions will disappear." -- European Union Trade Commissioner Pascal Lamy.

Read the entire essay from the View from the Mount archives

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