Marketwatch Reports That US May Levy

Marketwatch reports that the US may levy tariffs and protectionist policies against China. The tariff would have devastating effects on the economy, bring the US back to an era, post circa-1929, of the Smoot Hawley Tariff.

"When China fails to act, it only strengthens those who want to build protectionist barriers around the U.S. market," Gutierrez said. "That's the last thing we need." Pending legislation would impose tariffs of 27.5% on all Chinese imports unless China revalues its currency.

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