Canada Settles Its Anti – “Buy American” Ban
Canadian officials have come up with a resolution that threatened to ban American companies to bid on city contracts because of the ‘Buy American’ push by the United States says Canadian news source, CBC News.
The threat to ban American companies deminished after it was reported that the U.S. would exempt Canada from the “Buy American” created in the Stimulus Plan.
“We are encouraged by the talks now underway between Canadian and U.S. officials and want to give them the time and space to reach a successful outcome,” federation president Basil Stewart said Saturday Oct 3rd.
The resolution created by the Federation of Canadian Municipalities will support cities that adopt policies allowing them to buy only from companies whose home countries don’t impose trade restrictions against Canadian goods. The action was to take effect Sunday.
The “Buy American” provision gives priority to U.S. iron, steel and other manufactured goods for use in public works and building projects funded with taxpayer stimulus money.
Canadian governments and businesses are against the policy, arguing it violates NAFTA.
To read more, click here.
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Study: The End of the Cross-Border Trucking Program Hurts Economy
Earlier this year, the US put an end to the Mexico Cross-Border Trucking Program and a new study has revealed that it has hurt the economy.
A study conducted by the U.S. Chamber of Commerce founded these results:
– 25,000 lost American jobs
-$2.6 billion in foregone U.S. exports
-$2.2 billion in higher costs for U.S. businesses and consumers
In March when the U.S. government decided to stop funding the two year program, Mexican authorities immediately hit the U.S. with a $2.3 billion penalty duty on 89 U.S. imported products, costing the American consumer around $421 million.
The study’s results are based on the U.S. actions towards Mexico and the Mexican retaliation. These results were analyzed by DC Velocity magazine.
To read the more, click here.
Tired of Waiting on NAFTA-Cross Border Trade Heats Up
On June 2nd, the Journal of Commerce reported that the Mexican National Trucking Association is tired of waiting for the U.S. to reestablish its trucking program to enter in and out of the U.S.
Since March, the Department of Transportation and the Mexican National Trucking Association has been working on a new cross border trucking program, paperwork should be sent to Congress this month.
All this wait has upset Mexican truckers, who is seeking arbitration under NAFTA with the U.S. State Department claiming damages up to $6 billion for lose of business because of denied access to the U.S. highways.
To read the full article: Mexican Truckers Demand $6 Billion from U.S.