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Mon June 8, 2009
U.S. trading partners warn of protectionism
WASHINGTON (AP) – WASHINGTON (AP) - Canada and the European Union are complaining loudly, warning that protectionist moves by Congress could poison global trade relations.
Businesses abroad complain they've already been shut out of U.S. markets because of the "Buy American" provision in the massive stimulus bill, which requires the use of American-manufactured products.
EU and Canadian officials are expressing concern that the practice is widening, as Congress considers adding similar provisions to other spending bills.
Supporters of the provisions say they want to make sure that the billions of taxpayer dollars being spent to revive the economy create jobs at home, especially with the unemployment rate at its highest level in 25 years.