Canada is looking with some nervousness at the Obama administrations proposed ‘Buy American’ jobs act. Hey, we’re in North America too! We’re all Americans here..
Canada is seeking an exemption from the new Buy American provisions in U.S. President Barack Obama’s proposed jobs act, weeks before the exemption for the previous stimulus is set to expire.
Minister of International Trade Ed Fast, citing concerns over a potential “trade barrier initiative,” has launched a round of consultations with Washington to negotiate an extension for a Canadian exemption before a Sept. 30 deadline.
Obama’s proposed $447-billion US American Jobs Act is intended to give a much-needed jolt to a stalled U.S. economy, but in an interview with Evan Solomon on CBC’s Power & Politics Wednesday, Fast characterized the bill as misguided.
“We believe that protectionism is counterproductive, especially during these difficult economic times around the world,” the minister said, adding that 75 per cent of Canada’s trade is with the U.S.
Read the full article over at the CBC.