Robert Reich on Buy American clause

[Hello_Kitty]

“In this case, when American taxpayers are paying a huge amount of money to stimulate jobs in the United States, the argument can be made that the extra cost to the government and the slight antagonism of foreign governments may be worth it,” said Reich, who sparred with Summers and Clinton Treasury Secretary Robert Rubin over trade.


He said if the U.S. stimulus bill leads foreign governments to pass similar bills benefiting their own domestic industries, “so much the better.”

http://thehill.com/leading-the-news/obamas-free-traders-mum-on-protection-2009-02-02.html

OH NOEZ!1! HE'S FOR PROTECTIONIZM AND IT'S GUNNA START A TRADE WAR!!1! XENOPHOBE!!1!ELEVENTY

[demokatgurrl]

1. This is definitely a time for "protectionism"

if that's what it's called. Why should our tax money be spent outside this country when the purpose of the stimulus to stimulate THIS economy, not the Chinese economy?

It does cost a little more to buy American, but you know what? Since I am fortunate enough to be able to afford it, I do so every chance I get. Sadly, there are not as many chances to do so now as there were even 20 years ago. But I look for labels, and I do it when I can find it.

As for the U.S. Government- absolutely, buy American unless it's not avaialable. We don't need to provide employment and income for citizens of other countries. If foreign GOVERNMENTS are buying American over their own domestic goods, I'd love to read about it.

[Hello_Kitty]

2. If anyone should be supporting and promoting the industries of a country

It's their government. This should be the case with every country, not just us. It's not "protectionism", it's common sense.

[pampango]

6. We can't exclude Canadians from bidding on projects funded by the stimulus, because

we have an agreement with them that allows both sides to bid on the government projects of the other. AFAIK, we have no such agreement with China so excluding their companies should be perfectly legal.

[Idealism]

3. Oh noes, China will start taxing the massive amounts of goods we send them!!!

Shi- wait a minute...

[Hello_Kitty]

4. Yeah, I know.

That's what I love about these threats of a "trade war". The trade war has been underway for quite awhile now. Corporations are winning and workers are losing.

[Idealism]

5. You are correct, Ma'am!

Not to mention that China has various degrees of tariffs already on foreign goods. For example, about 22% per whole car, 16% for car parts, etc...