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Monday, June 8, 2009

Top US Trading Partners Worried Over Obama, Democrats' Protectionist Policies

Last week, it was reported that Canadian officials have already started to fight back against possible American protectionism. Now, other European countries seem to be considering joining Canada in the trade war against Obama and the Democrats' "Buy American" provisions:

America's largest trading partners are warning that protectionist moves by Congress could poison global trade relations, despite President Barack Obama's assurances that he wants to keep U.S. markets open.

Businesses in the European Union and Canada complain they have been shut out of U.S. markets because of the "Buy American" provision in the massive stimulus bill, passed in February, which requires the use of U.S.-manufactured products.

EU and Canadian officials worry the practice is widening, as Congress is considering adding similar measures to other spending bills.

Here we go again. I'm getting flashbacks to the 1930's when Hoover and FDR's administrations implemented protectionist policies that deepened the depression and made it last years longer.

Labor unions are hugely in favor of this economically destructive policy. Since the Democrats are so beholden to the unions, they have no choice but to pass the protectionist policies to keep the unions happy no matter how bad it would be for the rest of Americans or the world. Unions drove GM and Chrysler into bankruptcy. Ford and the airline industry may not be far behind. The teacher's union is partly responsible for the decline in our kids school grades and the mass exodus from public schools to private schools. Now, they want to ruin the rest of the country.

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