Sunday, December 5, 2010

Another Big Win for Obama

An excerpt from the Whitehouse fact sheet about the recent changes in the long signed Korea USA Free Trade Agreement:

Under the 2010 supplemental agreement, Korea has committed to add a special safeguard for motor vehicles to ensure that the American auto industry does not suffer from any harmful surges in Korean auto imports due to this trade agreement.
In other words, if too many consumers actually WANT these Korean vehicles, the US government has the right to tell then "You can't do that" and shut down imports.

What do you guess any increase in Korean sales will start Ford, GM, and the UAW to whining?

For this bit of protectionism, Lord Obama sat on an already signed agreement for two years.

Sunday, June 6, 2010