Copying and distributing are prohibited without permission of the publisher

(AMM) Inclusion of Canada in 'Buy American' draws cheers, jeers

February 08, 2010 - 22:27 GMT Location: PITTSBURGH

KEYWORDS: Buy American , Canada , ARRA

Many U.S. industry players are applauding a decision that allows Canada to take part in the "Buy American" stipulation in the American Recovery and Reinvestment Act (ARRA), but behind the scenes some U.S. mills are unhappy with the decision.

The agreement provides increased access for Canadian industry to a range of procurements in the United States and temporary access to uncommitted funding in certain programs under the ARRA.

"In the short time frame we were given, we had no way to do an economic evaluation and assess its impact," said one U.S. mill source who declined to be named. "It is very difficult to understand the benefits and consequences to both sides. What are the reciprocal gains on both sides since it only benefits a limited part of the stimulus package?"

Another mill source said that the U.S. had no choice but...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.


subscribe to this feed Comment & analysis

  • COMMENT: When super-cycle poster child BHP Billiton trims its plans...

    BHP Billiton is one of the poster children for the commodities super-cycle: a mining company whose immense upstream assets in copper and iron ore have fed the industrialisation of China since the early years of the 21st century and enabled it to return $52 billion to shareholders between 2001 and 2011.

  • LORD COPPER: There is nothing to fear after JP Morgan loss ...

    So, here we go again. Another bank, another huge trade gone bad. This one doesn’t even appear to have been a case of rogue trading; a whole desk seems to have been operating with the full knowledge of the management and/or risk committee.

  • COMMENT: Keep calm and carry on?

    The decision of the Indonesian government last week to uphold the ore export ban and taxes from May 6 has failed to calm the nervous market. So far, both producers and buyers have displayed an impressive tolerance level to the export uncertainty. But how long will their patience last?

Upcoming Events

Most readMost emailed

Popular Searches on MB

MB Glossary


From Aluminium to Zinc...
Search this free glossary on metals