Sunday, February 1, 2009

Are you a man or a mouse?

Barack Obama to dilute 'Buy American' plan after Europe threatens US with trade war

The White House has promised to review the protectionist proposals, passed last week by Democratic allies in the House of Representatives, which would ban the use of non-American steel in the $800 billion of construction projects.

Posted by gardeniadotnet @ 12:29 AM (600 views)
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3 thoughts on “Are you a man or a mouse?

  • Eternal Sceptic says:

    World trade is already tanking. Protectionism will just put another nail in the coffin.Aren’t politicians a wonderful species?

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  • stillthinking says:

    How can the countries holding US treasuries implement protectionist measures? That would be the same as making that wealth unusable.
    The UK, incidentally, is a very large holder of US treasuries.

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  • Why buy an inferior product when you can buy a cheaper and better foreign one? Seems to me in industries like automotive etc., the dreadful gas guzzling barges and leisure trucks these american companies produced were on the basis of favourable legislation and patriotic buying, they have nothing else to recommend them, no wonder they are the worst affected, they were broken even before the crisis. The US airforce looks like it is going to be forced to buy a “more patriotic” but inferior fuel tanker (even though the better european model would still result in many US jobs.) Where american companies really do lead their field on quality, service and price, they invariably do well – I suggest Obama and team focus on enabling this on the supply side rather than dictating to the consumer or falsely manipulating the market with import tariffs.

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