There’s been a fair amount of concern – and rightly so – over American protectionist legislation and its potential effect on Canada’s economy.
Essentially, the bill (which was tacked on to President Barack Obama’s $819 billion stimulus plan) aims to ban foreign iron and steel to be used in any infrastructure projects related to the plan.
Canada exports almost $7 billion worth of steel annually – a large chunk of which goes to the U.S.
Good job, Obama – you’ve been President for how long?
Prime Minister Stephan Harper is planning to lobby the U.S. over this legislation.
“Some of these measures go against not just the obligations of the United States, but frankly the spirit of our G20 discussions”, Harper said yesterday in Parliament.
He also added that he expects the U.S. to respect its international obligations.
Today, Ontario Premiere Dalton McGuinty expressed concern over the provisions, and added his support to the comments Harper has made on the issue.
“The American provisions will cause harm to the Ontario economy, further job reductions, and will cause more pain and anxiety for Ontario families,” McGuinty said.
Interestingly enough, back in August during campaigning for the American election, Wendy Sherman (who is a senior adviser to Obama) said she had “total confidence” that Obama would be working closely with Canada to ensure a strong trading relationship.
“Senator Obama values the trade relationship with Canada and Canada is a very, very crucial trading partner for us,” she said.
Let’s hope someone reminds President Obama of this during his visit to Ottawa on February 19th!