A US study has named the “Buy American” provision in the $800 billion economic stimulus bill as “bad for jobs, worse for reputation.” Making a formal request to the US Congress to remove the provision, the study warned that “the negative job impact of foreign retaliation against Buy American provisions could easily outweigh the positive effect of the measures on jobs in the US iron and steel sector and other industries.” Additionally, the study indicated that the provision may encourage key suppliers like China, India, and Brazil to retaliate.
Study condemns US “Buy American” provision as bad for jobs, worse for reputation
February 10th, 2009Author : Biz2Credit Advisor
