'Buy American' Bad Idea?

" It's to meet with its 100 -- today discussed the growing trend. Of new trade rules being put complaints against other nations European Union is criticizing the US over a proposed buying American provision an economic stimulus package. That includes tariffs on Italian water which will affect a 150 million dollars. In business with that country John -- is EU ambassador to US -- joins be right now with much more on that in morning ambassador good to see you. But Margaret. So it's not just the buy American clauses I understand that we are seeing. More and more terror -- put in place on any country that importing goods and services. From other countries why you -- is this specific buying American a red flag."

" Because the United States and particularly under new president is expected. By the word to give economic leadership to set an example and to paint a -- way forward far the rest of the word out of the crimes. That's not. If United States then proceed and it in the fourth major bid the president's assigned to insert protectionist measures that. Damage other countries then it's less likely that other countries we follow. The United States in the United States wants to give economic leadership but unfortunately more likely that it might follow in introducing retaliatory. At protectionist measures in torn between parked American exports. The United States needs to set America it needs to -- American goad them apart and could buy American provision that caught out of our country. Are likely to make it more difficult for American exporters to export and thereby create jobs."

" Soon you'll meet today with Fed members of the World Trade Organization as we mentioned earlier. How would you try to addresses not just the United States because as you and I both know there -- plenty of other countries or putting together. Similar metrics although as I understand that we can ease on the language arts stimulus fell."

" By the United States say is like you know only -- imposed by America provisions within its existing legal obligations. But unfortunately that if not very reassuring because. The United States have plenty of room to increased protectionism within its existing legal obligations on that would be very damaging but so. -- it's not the only country doing this that have been a number of other examples Argentina and Russia for it particularly. Which who have introduced protectionist measures notwithstanding the fact that they along with the United States commissioners here in Washington November not to do that. The -- you know is that the meeting on the second of April and on them are all the major war leaders are going to come together. And hopefully agree a package. Off a global stimulus of the global economy this is a global economic crisis it requires a global solution. And the key I think one key to that is American leadership and on for auction to buy America provisions damage American leadership. What the European Union stand on this ambassador. European Union is one of the most open. Markets in the war that's part of government parking is concerned there is no by -- EU law by European requirement in our at all. American companies are free to bid for any government contract anywhere in Europe under an office pictures. On far can he got and not the case in the United States. Since nineteen perky three and Herbert Hoover signed the original by America that this nation to have be have been restrictions are Europeans -- dollars. Bidding for public procurement -- Part justice here in the United States. What if the that the station. That's in prospect go through congress in the stimulus that would become more severe human rights from a 49%. American requirement to a 100%. American requirement and that I think goes against all the time. Of efficiency and getting. One maximum bang for once book you would get less. That's bridge left school whatever -- using the theater did you get that published. If you restrict the competitors to mark too high priced competitors rather than allowing every efficient steel producer in the words. To bid for the taxpayer's business."

" Great points European ambassador to the United States great having you here Jon -- thank you very much."