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It's pretty clear that if America cranks up the "buy american" idea too much, the rest of the world can easily do the same. The EU now has more citizens than the US so if they start to boycott each other it's obvious who will win. And I didn't even mention Asian countries.
Still, it might break the current trend which shows a steady imbalance in the income/spendings. For years, America has imported more than what's been exported, creating a debt. It can't go on forever
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