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U.S., Canada Dismiss 'Buy American' Spat

President Barack Obama and Canadian Prime Minister Stephen Harper concluded a meeting in Washington on Wednesday by playing down their biggest bilateral dispute: what to do about protectionist "Buy American" provisions written into the U.S. economic-stimulus program.

 

At a joint news conference, Mr. Obama said the two countries were looking into ways of alleviating the trade friction, but noted that the effects of such protectionist measures were relatively minor, given the "robust" business between the U.S. and Canada, its biggest trading partner.

 

Source: Wall Street Journal

 

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NAM Chief Cites 'Regulatory Overreach'

National Association of Manufacturers President John Engler yesterday expressed concerns about "regulatory overreach" in Washington and encouraged President Barack Obama and Congress to develop plans for growing the U.S. economy.

 

Mr. Engler, head of an advocacy group with more than 11,000 members, said that while there is evidence the recession is ending, unemployment is approaching 10 percent, 2 million manufacturing jobs have been eliminated and factories are operating at only two-thirds of capacity.

 

Source: Pittsburgh Post-Gazette

 

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Aug. Factory Output Up 0.8%

The output of the nation's factories, mines and utilities rose 0.8% in August. Output was also much stronger in July than first estimated, the Federal Reserve said Wednesday. The August increase was just a bit better than expected by economists surveyed by MarketWatch.

 

Source: MarketWatch

 

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Specter, Unions Disagree on Path for Overhaul of Labor Laws

Sen. Arlen Specter told the AFL-CIO convention Tuesday that he and a small group of Democratic senators have a road map for putting a long-stalled, union-backed overhaul of labor laws on track toward passage -- an assertion that was quickly dismissed by leaders of the AFL-CIO.

 

The latest confusion over the Employee Free Choice Act highlights the difficulty the proposal is causing for congressional Democrats, labor leaders and President Barack Obama.

 

Source: Wall Street Journal

 

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EU Forecasts End to Recession

The European Union said Monday that the recession in the euro-zone and EU will likely have ended in the third quarter with the resumption of modest economic growth.

 

In an update to its May forecast, the EU cast doubt on strength of the upswing, saying it won't change its prediction for the euro-zone and EU economies to shrink by 4 percent this year.

 

Source: AP

 

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