Philadelphia Inquirer: BAT Bad News for Pennsylvania

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Furthermore, any attempt to tax imports will likely be retaliated against in other countries by enacting similar trade measures that boost their own exports and penalize U.S. imports. In a recent interview, Matt Gardner, a senior fellow at the Institute on Taxation and Economic Policy said, "The question is whether that would just mean a whole bunch of litigation or whether it would mean a trade war between members of the [World Trade Organization] and the U.S." J.P. Morgan analyst Adrian Mowat put it more succinctly, "Protectionism is bad for growth." Read more