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There is unsettling news for Canada in U.S. President Barack Obama's economic stimulus bill, or at least in the version approved Wednesday night by the House of Representatives.
It says that steel used in public projects under the $819-billion US plan must be made in the United States, an idea likely to cause trade disputes and block sales by Canadian mills.
As passed by the House, Section 1110 of the American Recovery and Reinvestment Act of 2009 says, "None of the funds appropriated or otherwise made available by this act may be used for a project for the construction, alteration, maintenance, or repair of a public building or public work unless all of the iron and steel used in the project is produced in the United States."
“I know that countries around the world are expressing grave concern about some of these measures that go against, not just the obligations of the United States but, frankly, the spirit of our G20 discussions,” Harper said
It's bad for Canada, it's bad for the U.S., it's bad for the global economy," he said. "When you see people engaging in protectionism at the time of a recession, the fear is that other countries will retaliate as well."
It would leave U.S. taxpayers paying higher prices for public works and could spark "tit for tat" in trade policies, he said.
"The temptation will always be there for someone to say, 'Look, somebody has put up a barrier against us; we will put up a barrier against them,' and everybody loses as a result," he said.
Originally posted by Wehali
It's a good bill, America has to seriously start cleaning up its economy. I got
good hopes for Barack Obama, the free market has to be tied down and put
on a short leash from now on. The free market has caused global poverty on
a scale too massive to be allowed to continue existing.
Governments have to start controlling their markets, taking away the power
of major companies, who have been abusing it in total disrespect for human
rights. It's time the illusion that a free market is beneficial, is torn down.
Originally posted by projectvxn
reply to post by sos37
Don't confuse free-trade with free-markets.
Free markets have controls free trade does not. The free market enforces monopoly laws, tariffs imports and fosters competition here in the US by offering competitive wages, better products, and consistent growth.
Free-trade is a cost cutting profit mechanism that is actually anti-free market as huge monopolies, regional, national, and global corner markets, stifle competition and by design wages and production(which go hand in hand in a true free-market system).
Never confuse the two. The fascist elite in this country have done a good job of confusing the meaning behind both concepts. But they are not created equal.
Originally posted by Shystargazer
If we all agreed to buy American and make American we would be putting one of the largest corporations ( and biggest destroyer of American businesses ) out of business.....WALMART!!
Hey, I'm all for it!! Who's with me?
Sam Walton was all for products made in American, but, sadly, his dream died with him!
Give us back our jobs!