TORONTO, Sept. 19, 2011 /CNW/ - The Obama Administration's recent
legislative proposal to include 'Buy American' trade restrictions on
portions of the stimulus contained within the draft American Jobs Act
of 2011 runs contrary to a long-standing shared commitment by the
Canadian and US governments to free and open trade. Canadian Federation
of Independent Business (CFIB) president Catherine Swift stated, "We
are very disappointed to hear about the inclusion of 'Buy America'
provisions in the recent American Jobs Act announcements.
Protectionist policies like this have never been shown to be effective,
and indeed will end up punishing U.S. consumers by imposing higher
prices at a time when consumers are already beleaguered by a difficult
"Both Canada and the U.S. have a strong entrepreneurial presence with
small- and medium-sized enterprises (SMEs) accounting for roughly half
of GDP, employment and the bulk of net new jobs. Open bilateral trading
arrangements are vital to SMEs on both sides of the border," said
Swift. Adding, "CFIB is pleased to see the Canadian government moving
quickly on this matter to ensure the many small- and medium-sized
businesses who actively trade with the U.S. are not harmed at a time
when business conditions are already fragile."
For many years, CFIB has been very active on border and trade issues and
has lobbied to ensure that low-risk; low-volume trade by Canadian
smaller firms is not overlooked. CFIB will continue to work with the
government to oppose this latest threat and promote policies that
support open trading relationships in the U.S. and elsewhere. "We
believe long-term economic growth and good jobs are best protected and
created by broadening and deepening our trading relationships and
removing trade barriers, not restricting free and open trade. As well,
these proposed restrictions, if enacted, will send negative signals to
governments around the world that trade restrictions are an acceptable
policy choice," concluded Swift.
As Canada's largest association of small- and medium-sized businesses,
CFIB is Powered by Entrepreneurs™. Established in 1971, CFIB takes
direction from more than 108,000 members in every sector nationwide,
giving independent business a strong and influential voice at all
levels of government and helping to grow the economy.
SOURCE CANADIAN FEDERATION OF INDEPENDENT BUSINESS
For further information:
For more information or to arrange an interview with Catherine Swift, contact Gisele Lumsden at 416 222-8022 or email email@example.com