Many people are aware that trade wars were one of the exacerbating elements that deepened and worsened the great depression. However, few people know that tucked into the recent "stimulus" package was the first salvo in creating a similar modern-day trade war. New restrictions were placed on trucks coming into the United States from Mexico. Mexico is now in the retaliating by placing new restrictions on 90 products from the United States. How many American jobs will be lost because of these new restrictions as a direct consequence of the "stimulus" bill that was supposed to create or save American jobs? Doesn't this sound like the 1930's all over again? Should we expect different consequences this time just because the calendar reads 2009?
In trade wars, there are no winners and losers. Everyone loses!
In trade wars, there are no winners and losers. Everyone loses!
