Program to include stricter enforcement and oversight of ‘Buy American’ provisions.
Canada is going to take another economic hit from the US.
Following the new Biden Administration cancelling the Keystone XL Pipeline, something that will cost thousands of Canadian jobs, the US President is implementing a Buy American executive order.
The order is similar to that which was signed by the Trump Administration, but is even stricter.
Here’s what the White House said in a statement:
“Federal law requires government agencies to give preferences to American firms; however, these preferences have not always been implemented consistently or effectively. It is long overdue that the U.S. government utilizes the full force of current domestic preferences to support America’s workers and businesses, strengthening our economy, workers, and communities across the country.”
The Biden Administration will be bringing in a ‘central review’ of current Buy American waivers, meaning that exemptions given to Canada could be rescinded.
It is also expected that the program will be further extended.
This is interesting to note, as much of the media regularly talked as if Trump’s protectionist policies were some sort of radical outlier, when it was in fact a popular policy that enjoys bipartisan support in the US, as evidenced by Biden campaigning – and now implementing – similar themes.
Of course, this is why Canada should be less reliant on trade with the United States, and should focus in particular on bringing in completely free trade between Canadian provinces.
Photo – YouTube