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American Exporters in last-ditch attempt to stop Obama raising Trade barriers

From The Times
January 26, 2009

Carl Mortished and Suzy Jagger

A coalition of leading American exporters, including Boeing, Caterpillar and General Electric, is trying to stop a “Buy America” clause being included in President Obama's $825 billion stimulus package.

The American Steel First Act would ensure that only US-made steel was used in $64 billion of federally funded infrastructure projects. The money, earmarked for roads, bridges and waterways, is aimed at kickstarting the economy, but the initiative by steelmakers, which secured support last week in the House of Representatives Appropriations Committee, is opposed by American exporters, who fear retaliation by foreign governments.

Their concern is given credence by the European Commission and by Eurofer, the association of European steelmakers, which said that it would urge the European Union to challenge the “Buy America” clause at the World Trade Organisation.

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This kind of

This kind of beggar-thy-neighbor protectionism is what turned the stock market correction in '29 into the great depression. If the incoming administration keeps this crap up, in not long they may actually manage to perform the almost unbelievable stunt of making Americans long for the good old Bush years. What a bunch of useless retards!

yep... history

yep... history repeats!

"When governments fear the people there is liberty. When the people fear the government there is tyranny."
-Thomas Jefferson

I am more concerned about the return of my money than the return on my money. --Mark Twain