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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: cosmicforce who wrote (102542)	2/1/2009 10:34:26 PM
From: TimF	Read Replies (1) \| Respond to of 543142

Cutting off imports, or even just imposing large penalties on them, because of these charge backs, would probably run afoul of GATT (not that GATT can enforce things to well, but still I thought the new administration was big on honoring international commitments). Beyond that imposing such a penalty, directly hurts the US, and then also opens up the possibility of retaliation, causing more pain. The last thing we need right now is a trade war. A trade war is a big part of what made the great depression what it was. And even if you don't mean now, it would still hurt even in better times.