Posted on 02/03/2009 6:41:48 PM PST by Steelfish
February 4, 2009 President Obama to water down 'Buy American' plan after EU trade war threat
The European Union warned the US yesterday against plunging the world into depression by adopting a planned “Buy American” policy, intensifying fears of a trade war.
The EU threatened to retaliate if the US Congress went ahead with sweeping measures in its $800 billion (£554 billion) stimulus plan to restrict spending to American goods and services.
Gordon Brown was caught in the crossfire as John Bruton, the EU Ambassador to Washington, said that “history has shown us” where the closing of markets leads — a clear reference to the Depression of the 1930s, triggered by US protectionist laws.
Last night Mr Obama gave a strong signal that he would remove the most provocative passages from the Bill.
(Excerpt) Read more at timesonline.co.uk ...
Obambi bumbling through policy, making it up as he goes.
This obama guy is a lightweight, and it scares me to death. Anyone could have seen the foreign relations problems with the “buy america” parts of the bill.
What happens when he makes the game-changing bad decisions and doesn’t have a mulligan?
After all the effort Obama spent campaigning in Europe last year and the response they gave him, you’d think they would be more in touch with his ideas.
Good grief, while I’m not a big fan of any “trade wars” (overblown as that fear may be), I can’t help but think that the rest of the world will see this latest move by Obama, and think “lightweight doofus”. I mean, good grief, what else COULD they think, when the French scare you?
I believe that US taxpayers money for economic stimuli should be spent on US products, but realisticly that is hard to enforce. There are many foreign made parts in US products and US parts in foreign products. I think it should be modified to buy US first, and if the US sources are tanked out, then augment it with foreign sources. Example there are very little US steel mills left, and they would not be able to provide all the steel needed for any major construction program. So if the production is maxed out, open it to foreign sources. I think the most important part of the stimulus program is mandate vendors to hire American only. Ironicly the Dems oppose this in order to cater their Hispanic constituents. The GOP needs to exploit this issue, and many blue dog Dems will joint thm in this endeavor.
You make a good point about Hire Americans Only.
Capitalism works best when everyone is doing it. Protectionism hurts everyone.
He sure seems to be on the retreat in every front. Garbage in garbage out.
That is what scares the heck out of me.
I am having a hard time deciding if he is evil or stupid and weak.
Either one is terribly dangerous.
The EU can go to hell.
I agree...the EU can go to hell....and looks like a lot of Euros even feel the same way
I wonder where all the Liberal Free Traders are now....now that Obama agrees with them? Gosh they were here en masse when the “Buy American” clause was first brought into the bill....
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.