An editorial on Bloomberg. com criticized President Bidens Buy American policy. The editorial argued that the .

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An editorial on Bloomberg. com criticized President Biden’s Buy American policy. The editorial argued that “the . . . problem is that protectionism sets the US at odds with its international commitments.” The editorial also predicted that Europe might react “to this new US posture with big, bold ‘Buy European’ policies of its own.”

a. What international commitments has the United States made that a Buy American policy might violate?

b. Why might it be bad for the U.S. economy if European countries responded to Biden admiration’s of Buy American policy with a Buy European policy?

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Macroeconomics

ISBN: 9780138102494

9th Edition

Authors: Glenn Hubbard, Anthony Patrick O Brien

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