Here's a link to a Bloomberg article that suggests that the Obama administration may be considering a 'buy American' condition in its economic stimulus legislation.
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“We are reviewing the buy American proposal and we are committed to a plan that will save or create 3 million jobs, including jobs in manufacturing,” said Jen Psaki, a spokeswoman for Obama’s transition team...
The stimulus package must pass Congress, and Representative Chris Van Hollen, the Maryland Democrat who is a liaison between Congress and Obama’s transition team, said “we obviously want to focus our investments in areas where American industry will benefit.”
Still, Van Hollen, speaking in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” said the aim of the legislation wasn’t to “set up walls” and that the stimulus would be aimed at “generating American jobs,” not triggering a “trade war.” ...
Nucor Corp. Chief Executive Officer Dan DiMicco said he will use his position as a member of the U.S. Department of Commerce’s manufacturing council to push for the use of domestically produced steel in such projects. Current requirements that American-made material be used in government projects are unevenly enforced, he said...
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Let the trade wars begin... but let's be sure to call it 'protecting jobs'. Yet, hasn't self protection historically been one of the primary justifications for going to war? I think Van Hollen will need some new rhetoric to avoid the association.
Protecting jobs dissolves the jobs of your neighbor, who will move to advantage his domestic industry. Such actions eventually become the habit that is isolationism. And global recessions become global depressions.
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“We are reviewing the buy American proposal and we are committed to a plan that will save or create 3 million jobs, including jobs in manufacturing,” said Jen Psaki, a spokeswoman for Obama’s transition team...
The stimulus package must pass Congress, and Representative Chris Van Hollen, the Maryland Democrat who is a liaison between Congress and Obama’s transition team, said “we obviously want to focus our investments in areas where American industry will benefit.”
Still, Van Hollen, speaking in an interview on Bloomberg Television’s “Political Capital with Al Hunt,” said the aim of the legislation wasn’t to “set up walls” and that the stimulus would be aimed at “generating American jobs,” not triggering a “trade war.” ...
Nucor Corp. Chief Executive Officer Dan DiMicco said he will use his position as a member of the U.S. Department of Commerce’s manufacturing council to push for the use of domestically produced steel in such projects. Current requirements that American-made material be used in government projects are unevenly enforced, he said...
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Let the trade wars begin... but let's be sure to call it 'protecting jobs'. Yet, hasn't self protection historically been one of the primary justifications for going to war? I think Van Hollen will need some new rhetoric to avoid the association.
Protecting jobs dissolves the jobs of your neighbor, who will move to advantage his domestic industry. Such actions eventually become the habit that is isolationism. And global recessions become global depressions.
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