So I’m wondering how long it will last
US-EU trade war looms as Barack Obama bill urges ‘Buy American’
The prospect of a trade war between the US and Europe is looming after “Buy American” provisions were added to President Barack Obama’s $820 billion (£573 billion) stimulus package.
The EU trade commissioner vowed to fight back after the bill passed in the House of Representatives late on Wednesday included a ban on most purchases of foreign steel and iron used in infrastructure projects.
The Senate’s version of the legislation, which will be debated early next week, goes even further, requiring that any projects related to the stimulus use only American-made equipment and goods.
The inclusion of protectionist measures has quickly raised hackles in Europe.
A spokesman for Catherine Ashton, the EU trade commissioner, said: “We are looking at the situation. 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.”
I do like that we’ll be buying any and all necessary items needed for his “rebuilding America” stunt from American companies. I could really care less what the EUroweenies think about the idea.
However, Obama promised to “renew America’s good will status around the world” (or some such feel-good pap), and is now standing with his pen, poised and ready to sign anything the Legislative branch sends his way (provided it is as pork riddled and socialistic enough) no matter how offensive it may be to those he claimed to want to impress.
Today marks the last day of President Obama’s first two weeks in grown-up land. Decisions, decisions.
Does he like America’s industries more than he does the EUro’s? I guess we’ll soon find out just what Big Labor’s money has bought them.