As if the $900 billion stimulus package wasn't controversial enough, provisions requiring purchase of U.S.-made iron and steel for government contracts that were slipped into the House version, and of all manufactured goods in the Senate's, have annoyed more people than expected — across the world.
Last week, leaders from Canada, Brazil, China, the U.K., India, Mexico, Germany and the Czech Republic, among others, spoke out against such "Buy American" provisions as protectionist. Some threatened retaliation.
The most assertive voice came from the European Union, our top overseas market, which last year engaged in two-way trade with the U.S. totaling $709 billion.
EU ambassador to the U.S. John Bruton warned Congress that the "Buy American" provisions will damage the U.S. as well as world trade by building protectionist sentiment around the world.
Re: US 'Economic Stimulus' Budget Review
Originally Posted by Crazed Rabbit
Let's hope that gets let on the cutting room floor in the final version of the bill.As if the $900 billion stimulus package wasn't controversial enough, provisions requiring purchase of U.S.-made iron and steel for government contracts that were slipped into the House version, and of all manufactured goods in the Senate's, have annoyed more people than expected — across the world.
Reply With Quote
Bookmarks