Posted by Tina
Starting To Pay Price For Our Protectionism IBD
* As Obama makes political hay off protectionism and promises a new Smoot-Hawley era, it’s no surprise our trading partners are beginning to look to other markets such as Europe. It’s a warning. *** Our No. 1 trading partner, Canada, isn’t stupid. When Obama threatened last February to rewrite the North American Free Trade Agreement on his own terms, our northern ally started looking abroad to other markets. *** They found a big one in Europe, which seems to have few hang-ups about increasing exports and signing free-trade treaties. Last Friday, Canada and the European Union held the first talks toward an eventual free trade agreement between the two. *** Colombia is also preparing to sign a free-trade deal with Europe, as its own free-trade accord with the U.S. languishes after House Speaker Nancy Pelosi blocked it in Congress last April. *** U.S. allies are wise to seek other partners no matter what the U.S. climate the U.S. downturn no doubt plays a role too. But it started with noises out of the U.S. about pulling up the drawbridge. *
This isn’t just a “do nothing” Congress…it’s a do great damage party. Higher taxes, no trade, socialized medicine and “spreading the wealth around”…what more might they do to drive stakes into the hearts of American enterprisers and employees? Do we really want to find out?
BIG GOVERNMENT…where, do they think the money will come from after they shut it all down?