AHeneen
02-14-2009, 03:25 AM
Congress Approves Protectionist Measure That Could Spark Trade War
Major partners, including the European Union and Canada, say the legislation favoring U.S. steel, iron and manufactured goods for government projects could undermine pledges by the leaders of major economies not to resort to perfectionism during the world economic downturn.
AP
Friday, February 13, 2009
WASHINGTON - Congress approved protectionist measures in a $789 billion stimulus bill Friday that U.S. trading partners have warned could spark a trade war.
The bill, however, left the Obama administration some room to maneuver to appease other countries who say it will benefit U.S. companies unfairly.
The stimulus bill was approved by the House Friday afternoon and by the Senate later in the evening. It now goes to President Barack Obama who is expected to sign into law quickly.
Major partners, including the European Union and Canada, say the legislation favoring U.S. steel, iron and manufactured goods for government projects could undermine pledges by the leaders of major economies not to resort to perfectionism during the world economic downturn.
...
From Fox News... (http://www.foxnews.com/politics/elections/2009/02/13/congress-approves-protectionist-measure-spark-trade-war/)
Major partners, including the European Union and Canada, say the legislation favoring U.S. steel, iron and manufactured goods for government projects could undermine pledges by the leaders of major economies not to resort to perfectionism during the world economic downturn.
AP
Friday, February 13, 2009
WASHINGTON - Congress approved protectionist measures in a $789 billion stimulus bill Friday that U.S. trading partners have warned could spark a trade war.
The bill, however, left the Obama administration some room to maneuver to appease other countries who say it will benefit U.S. companies unfairly.
The stimulus bill was approved by the House Friday afternoon and by the Senate later in the evening. It now goes to President Barack Obama who is expected to sign into law quickly.
Major partners, including the European Union and Canada, say the legislation favoring U.S. steel, iron and manufactured goods for government projects could undermine pledges by the leaders of major economies not to resort to perfectionism during the world economic downturn.
...
From Fox News... (http://www.foxnews.com/politics/elections/2009/02/13/congress-approves-protectionist-measure-spark-trade-war/)