And yet, it is possible that the world economy may have to absorb the presence of trade tensions between the United States and Canada.
Why? Because of ridiculous “buy American” provisions in the Administration’s American Jobs Act.
Do we really need to once again go over how we are in an interconected world economy? That “buy [INSERT NAME OF NATIONALITY HERE]” provisions are archaic and meaningless when we have facts like this–and don’t think for a moment that it is an isolated fact–lying around?
And whatever happened to Team Obama promises that we would respect our allies, unlike that supposedly evil and unilateralist Bush Administration? Has that promise also gone by the wayside?
The sad thing, of course, is that we can expect to see more stories like this one. We are going into an election year, after all, and economic nationalism from an Administration that is on the ropes politically is going to increasingly become the order of the day in order to try to win some votes back. The problem is that in pursuing this particular political message, the Obama Administration risks making the United States look like a nation of economic troglodytes.
(Thanks to Jacob Levy for the link.)