The Democrat's Trade war with Canada
The Washington Compost is reporting that stipulations in the Bucket List stimulus bill related to "buy American" clauses ,(discussed here :https://www.askmehelpdesk.com/curren...ed-319354.html) ,are creating tensions between us and Canada .
Quote:
Outrage spread in Canada, with the Toronto Star last week bemoaning "a plague of protectionist measures in the U.S." and Canadian companies openly fretting about having to shift jobs to the United States to meet made-in-the-USA requirements. This week, the Canadians fired back. A number of Ontario towns, with a collective population of nearly 500,000, retaliated with measures effectively barring U.S. companies from their municipal contracts -- the first shot in a larger campaign that could shut U.S. companies out of billions of dollars worth of Canadian projects.
washingtonpost.com
The article goes on the say that the Dems in Congress have pretty much embraced protectionism.
Quote:
But the number of measures, both proposed and enacted, from the Obama administration and Congress in recent months has raised an alarm among foreign governments, pundits and news media outlets. The buy American provisions in the stimulus package, signed into law in February, were just the beginning. Last week, Obama unveiled a series of proposals aimed at increasing taxes by nearly $200 billion over the next decade on U.S. companies doing business abroad. At a White House event, Obama said the measures were designed to "close corporate loopholes" that permit companies to "pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, N.Y."
Keeping Jobs at Home
A slew of legislative proposals is also aimed at keeping jobs at home. In recent weeks, the House attached additional buy American provisions to a $14 billion clean-water fund that provides loans to local communities and a $6 billion program to finance environmentally friendly school construction projects.
When President Obama went to Canada in Feb. he promised to avoid protectionism ;especially with Canada ,our biggest trading partner. He even introduced language into the bucket list that the bill would not supercede existing agreements.
But Obama's regulators are singing a different tune.
Quote:
federal authorities have determined that construction projects even partially funded with stimulus dollars must also buy American, dramatically increasing the universe of affected contracts.
Ummmm Mr President... Canada and Mexico are our biggest sources of oil. Since we refuse to drill our own that makes it important that we keep good trade relations with them don'tcha think ? Oh that's right... you bow to the Saudi's .
