The Mirage of American Economic Nationalism
Economic nationalism unfortunately seems to be in vogue south of the border, and the latest Buy American provisions may have serious repercussions for Canadian manufacturers, as federally-funded infrastructure projects will have to be built using construction material produced in the U.S.
Not only should Canada be exempted from this requirement given the integrated nature of our two economies, but this protectionist barrier should simply not be put in place at all. The Canadian steel sector will be hurt by it, among others, but so too will American families, since their government will potentially pay more for public infrastructure. The cost of material could go up, and government spending as well, which will increase the debt that already weighs heavily on the U.S. population.
The American government should reverse course, as protectionist measures like these, under cover of economic nationalism, will help neither of our two economies.