Yesterday the House voted overwhelmingly to punish China for manipulating the yuan. But that probably won’t go anywhere, as we doubt the Senate will ever do much with the bill.
But that doesn’t mean the story is going away. A new poll from WSJ/CNBC reveals that the majority of Tea Partiers oppose free trade. At 61% opposition, that’s just below union opposition, meaning that both sides of the political spectrum will favour more sanctions and barriers.
This is just another sign, also, of the emerging split within the GOP.
Right now the Tea Partiers and Wall Street are on the same side, but how long can that last when they disagree so vehemently about trade policy and bank bailouts?
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