Joe Biden's Latest Economic Idea Could Be Bad News For Canada & Its Not Just Oil
If some Canadians weren't already side-eyeing President-elect Joe Biden for his public stance against pipeline, then him wanting to exclusively buy everything from America, halting billions of dollars for Canada, is sure to do it.
That's the stance he took in his first big speech regarding the American economy since he declared victory in the election, according to a report from the Financial Post.
The plan includes the possible loss of millions or even billions of dollars in prospects for Canadians if trades and contracts are cut off in favour of American businesses.
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From autos to our stockpiles, we’re going to buy American.
Joe Biden
Per the report, Biden promised that his administration would target government contracts worth US$600 billion.
That is to say, once he takes office, he will make sure that American businesses get the long end of the stick.
“From autos to our stockpiles, we’re going to buy American,” Biden said per the report.
“No government contract will be given to companies that don’t make their products here in America,” he continued.
Although Canadians were overall happy with the US election turnout, this move could change that appeal.