Tuesday, March 17, 2009
The ugly head of protectionism
Not surprisingly, the Mexican government has not taken kindly to the U.S. administration's decision to violate the terms of NAFTA. It has retaliated with new trade tariffs. President Obama is lacking the necessary spine to ward off the protectionist lobby in his party. This is not surprising. It is also a harbinger of fractured trade relations. The headwinds are going to be great.