Protectionism may be Obama’s Iraq War, a huge, costly, error-prone, distracting, program that generates enemies and just might work.
The enemies are all over, including the generally pro-Obama CNBC
Just as Bush’s foreign policy was consumed by the Iraq War, there are signs that Obama’s economic plans may consume his foreign policy.
On Obama’s visit to our largest trade partner:
US President Barack Obama said he had assured Canadian Prime Minister Stephen Harper on Thursday that a “Buy American” clause in his new economic stimulus law would not harm trade between the two allies.
Obama was asked about the language in the package, which he signed into law on Tuesday, during a press appearance with Canadian Prime Minister Stephen Harper here
On Secretary of State Clinton’s visit to Japan:
TOKYO, Feb 5 (Reuters) – Japan has sent a letter to the United States expressing concern about protectionism stemming from a “Buy American” plan in Washington’s mammoth stimulus package, the top government spokesman said on Thursday.
The letter, sent on Wednesday to top aides of U.S. President Barack Obama and the Senate’s majority and minority leaders, echoes concerns by other U.S. trading partners, including Canada and the European Union. [ID:nN03517537]
“The common responsibility shared by the two countries, which are the world’s No.1 and No.2 economies, is to resist protectionism together,” Chief Cabinet Secretary Takeo Kawamura told a news conference.
On Secretary of State Clinton’s visit to China:
Secretary of State Hillary Clinton travels to Beijing, where Chinese leaders’ are concerned about the “Buy American” clause in the stimulus package. Steve Chiotakis talks to Marketplace’s Scott Tong about why China and the U.S. are both worried.
“Old Europe” piles on:
BRUSSELS (Reuters) – The European Commission will monitor closely a “Buy American” requirement in a $787 billion U.S. economic stimulus package, the EU executive said in its first response since the bill came into force on Tuesday.
“Following the concerns expressed both in the U.S. and internationally, President (Barack) Obama’s administration has assured its partners that it will adhere to its international commitments,” the Commission said in a statement to Reuters.
Obama has signed two “Buy American” laws: one to keep out foreign workers, and another to keep out foreign goods. Obama’s first moves have President have been to cave in to fear, turn his back on allies, and go-it-alone on the most important foreign policy issue we have.