Suppose trade follows this pattern: The United States buys cars from Japan, Japan buys oil from the
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Suppose trade follows this pattern: The United States buys cars from Japan, Japan buys oil from the Middle East, and the Middle East buys machinery from the United States. What then is wrong with reciprocity legislation requiring each country to buy from the United States exactly the amount it sells to us? (This type of trading pattern is called multilateral trade, as opposed to bilateral trade between two nations.)
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