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Protectionism - coming to a country near you very soon
Posted by: McQ on Wednesday, October 22, 2008

Obama has dissed NAFTA and wants to change the arrangement. Nancy Pelosi has said "no" to a Columbian free-trade agreement.

Result? Both Canada and Columbia have gone looking for and found new trading partners who're much more accommodating than the US:
Last Friday, Canada and the European Union held the first talks toward an eventual free trade agreement between the two.

When this goes through, $27 billion in new trade is expected by 2014, according to a joint EU-Canada study.

[...]

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.
This isn't something which can be exclusively laid at the feet of Democrats. However, it is something that is going to be exacerbated by them if we take what they've been saying, and in the case of Pelosi, what they've been doing, seriously.

The rest of the world has noticed and is responding. Free trade does not exclusively mean trading with the US. But when, as I mention below, politicians are beholden to Big Labor, the chance for "free trade" becomes less and less of a probability because for unions it is not in their best interest for free trade to become an actuality. And, trust me, as they've demonstrated in both rhetoric and deed, their politicians know that.
 
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I think the Columbia deal was an anti-Bush pro-FARC/Chavez hissy fit by Congress.

Protectionism isn’t the correct word for what Obama’s discussed, imho. He dissed NAFTA, but then it was reported he may not have meant it. Otherwise, I think he’s only talked about preventing off-shoring of jobs.

If anything that will kill US companies who will not be able to compete with companies from those countries or other countries who can leverage those other companies. In the long run that will cost more jobs than blocking off-shoring will save. An intended/unintended consequence?
 
Written By: jpm100
URL: http://
I’m old enough to remember when the two things "liberals" had over conservatives were (1) a commitment to freedom of speech, and (2) support of free trade. Them days are gone forever.
 
Written By: Bilwick
URL: http://
Obama is a UN over the US type. Open markets are generally to the advantage of all the underdog nations we are viewed to have abused in the past. I suspect Obama will maintain an open market, but restrict options for domestic end-producers in terms of off-shorting and as part suppliers and deal with any jobloss fallout with more social programs.

That superficially benefits domestic workers (costing jobs in the long run) while generally benefitting the ’underdog nations’ by giving market advantage to their own domestic end-producers.
 
Written By: jpm100
URL: http://
I sort of hope that Obama’s true colors turn out to shock, shock his economic team, like Goolsbee. But most likely, he’ll just make sure our companies cant compete due to heavy taxes, regulations, and unions, while free trade limps along.
 
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