“An increasingly acrimonious trade dispute between China and the United States over the past three days is officially about tires, chickens and cars, but is really much broader…. On Friday evening in Washington, President Barack Obama announced that the United States would levy tariffs of up to 35 percent on tires from China. China’s commerce ministry issued a formulaic criticism of the American action on Saturday, but after a frenzy of anti-American rhetoric on Chinese Web sites, the ministry unexpectedly announced on Sunday night that it would take the first steps toward imposing tariffs on American exports of automotive products and chicken meat.” (New York Times, Monday)
Obama plays with fire.
FEE Timely Classic
“We Need Free Trade in Deed as Well as Word” by Gary M. Galles
