>>http://www.timesonline.co.uk/tol/news/world/europe/article5655115.ece
>>
>>A Snippet:
>>
>>The European Union warned the US yesterday against plunging the world into depression by adopting a planned “Buy American” policy, intensifying fears of a trade war.
>>
>>The EU threatened to retaliate if the US Congress went ahead with sweeping measures in its $800 billion (£554 billion) stimulus plan to restrict spending to American goods and services.
>>
>>Gordon Brown was caught in the crossfire as John Bruton, the EU Ambassador to Washington, said that “history has shown us” where the closing of markets leads — a clear reference to the Depression of the 1930s, triggered by US protectionist laws.
>>
>>...
>>
>
>
>OTOH
>
>maybe protectionism didn't cause or prolong the depression
>
>http://www.bbc.co.uk/blogs/thereporters/stephanieflanders/

And not implementing protectionist policies at a time when other major trading partners WILL implement protectionist policies is self defeating.

Watch France. Watch China. Watch Russia. Watch Germany. Watch Japan.