As many of our readers know, we at MetalMiner take a very strong position in support of global trade. And clauses like “Buy American” which negatively impact many of our readers who rely on healthy competition to procure steel or aluminum requirements for example, do nothing but distort pricing on the purchase side. They also create big problems on the sales side in the form of retaliatory trade policies against US manufacturers who rely on exports to meet revenue and profitability goals. We have included some links below to pieces we have recently written on the subject, many of which could greatly affect our readers:
- The Value of Doing Nothing, Unintended Consequences and Higher Priced Steel
- No Free Trade No US Exports
- Davos Death to Globalization
- Does Magnesium Justify Protectionism?
So when President Obama selected Jim Owens, CEO of CAT to participate on this “outside economic advisory team,” we became, in a word, ecstatic. With a PHD in economics and a fervent supporter of free trade, we’ve got high hopes that Owens will convince Obama why free trade is good thing not only for US manufacturers but for our entire economy.