Philadelphia Inquirer: BAT Bad News for Pennsylvania

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