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Wednesday, October 08, 2014

"Buy American" - another bad idea from the people that brought you "Too large to fail"

"Buy American" programs in the U.S. are well intentioned: The idea that the federal government will spend it's money on American products and not foreign ones. But like many good concepts, it can get a bit messy in implementation; especially when you have something called NAFTA. Oh wait - NAFTA is only free trade for the U.S. - my bad.

Here's the story of American protectionism gone wrong: A small public bridge in Colorado was built with American steel, but because that steel was rolled in the American company's Canadian plant, it became "foreign", and no longer qualified for federal dollars.

Buy America ruling reversed on Colorado bridge made with Ontario steel

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