What is protectionism? It is the economic policy restraining trade between nations, through tariffs on imported goods, restrictive quotas and a variety of other regulations that are there to discourage importing. This contrasts with our free trade agreement and creates problems. I can understand why, in theory, President Obama wants to put this in place to stimulate the American Economy, but would it do more harm than good? It certainly shows a lot about the United States of Americas need to preserve themselves but doesnt it show some disregard to the other nations that they have been dealing with for centuries? When the tough get going the US puts on the brakes?
Should Canada get on the same train as the president of the United States? The huge economic stimulus plan was passed and is called a good start. He has made it his mission to stimulate the US economy and warns of a deepening financial crisis unless the bill is passed.
On February 14th, 2009 the G7 leaders rejected trade protectionism. They agreed that each needs to get their stimulus packages flowing as quickly as possible and to improve access to financing but the also cautioned against trade protectionism. It seems that any of these measures taken now would be regretted down the road and that was spoken by Canadian Finance Minister, Jim Flaherty. It is short sighted.
At the debut of US Treasury Secretary Timothy Geithner, he assured his counterparts that President Barack Obamas $787 billion US plan to resuscitate the economy, which has been approved, would not violate in any way the United States commitment to free trade.
Canada and the US have the worlds biggest trading relationship with more than $1.5 billion a day.
Kari Calder
Saskatoon Real Estate Agent
Century 21 Conexus Realty Ltd.