Thursday, August 6, 2009

will Obama copy Bush on this too?

Most notably, Obama has copied Bush with a similar foreign policy and the same approach to fiscal policy (debt, bailouts and "stimulus").

Will he copy Bush's decision to pursue trade protectionism on a key issue, early in his administration?

From the editorialists of the WSJ...

President Obama has spent his first six months in office playing it coy on trade, avoiding any showdown with labor and postponing hard choices. His honeymoon is about to end, thanks to a request by his union friends to “safeguard” American jobs from Chinese tire imports. His looming decision will tell the world if he believes his own rhetoric about the dangers of protectionism in a weak global economy.

The choice is especially important because it is akin to George W. Bush’s decision on steel tariffs in his first year in office....[Bush's] decision to side with U.S. domestic political interests undermined American trade leadership and Mr. Bush’s personal credibility around the world, making it easier for other countries to resist the Doha Round of tariff reductions. Eight years later, Doha still isn’t finished...

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