Mitt Romney Will Not Run For President

originally posted by: dismanrc
Unfortunately this would not work because then then would just up the rate on things we import to them, or on things we needed to export to the US.

Not necessarily, we already operate at trade deficits and it's common practice for our goods to be marked up in their countries, while we don't mark up their goods in ours. There's plenty of room there to negotiate and say we'll allow their goods, but we require it be sold at a price that's on par with what we produce domestically. Don't forget that the US is the most desirable trade market in the world, we have a lot of power in leveraging access to that market in exchange for concessions that don't screw our citizens.