- Wealth PMS
Mexico will impose higher tariffs on a range of US goods in retaliation for a “protectionist” law passed in the US, Mexico’s economy secretary has said.
Last week the US government stopped a pilot scheme which had allowed Mexican lorries to use roads in the US.
And the UK has a “migrant fee“:
Foreign students and workers from outside the European Union will be required to pay a “migrant” fee of £50 each before they are allowed into Britain under new rules to be introduced next month as part of a phased shake-up of the immigration system.
Australia has said it will cut the number of skilled foreign workers it accepts by 14% to safeguard local jobs.
Immigration Minister Chris Evans announced the cut, the first by the country in 10 years.
Mr Evans said the government did not want to admit people who would compete with Australians for limited jobs amid the global financial crisis.
The scene is like this:
1) Developed countries attempt to protect their jobs
2) Developing countries will tax imports to retaliate.
This is bad for economies in general; the alternative will be to set up free trade only between developing nations. The developed world is f***ed anyhow.