'Buy American' - Sparks flyA stimulus provision that bans the purchase of foreign construction materials for public works projects gets jeers from economists and European trade interests.
A debate is brewing at home and abroad over an economic stimulus measure that would require materials used in the program's infrastructure projects to be purchased from American companies.
In the $819 billion House bill passed Wednesday, the so-called "Buy American" provision would, with some notable exceptions, ensure that only U.S.-produced iron and steel be used for construction. It expands on a 76-year-old federal law. The Senate, which is likely to take up stimulus next week, would go even further, effectively requiring that any products and equipment be American-made.
The plan is already drawing opposition. Source: Read PROS and CONS
John Murphy, vice president of international affairs at the U.S. Chamber of Commerce, said 50 million Americans whose jobs depend on exports would pay the price.
"If the U.S. raises these barriers to international business, we're likely to see massive retaliation around the world," he said.
"However, the one thing we can be absolutely certain about, is if a bill is passed which prohibits the sale or purchase of European goods on American territory, that is something we will not stand idly by and ignore," said Peter Power, spokesman for EU trade commissioner Catherine Ashton. SOURCE...
Of more than 100,000 responses to this poll so far, 75% do not believe that the economic stimulus package will help their job situation.
Is "Buy American" the Answer?
Yes. It will help create jobs and stimulate the economy.
No. It will affect the excess of our imports, and alienate and create ill-will with the global community.
Other: ?????????
WRITE YOUR REPRESENTATIVE!
Related: Protesters rally against World Economic Forum
Protectionism is a dangerous road to walk - remember the Thirties
CEOs, politicians urge Obama to shun protectionism
Non-importation Act | Embargo Act of 1807
See also: Your People, Our People | The World Distribution Center
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