Thursday, February 19, 2009

Harper on CNN: Protectionism Could Turn Recession into a Depression

(Video: CNN — Via CPC • Story: National Post)

In the interview Harper pointed out that Canada hadn’t imposed “Buy Canada” provisions in its stimulus plan, and suggested the U.S. could set off an international trade war if it tried to impose protectionist provisions in its plan. “If there is one thing that could turn a recession into a depression, it is protectionist measures across the world,” he said. He also argued that opening up the NAFTA treaty could result in never-ending negotiations that would hurt both countries, possibly including U.S. access to Canadian energy supplies.

Read the complete article/transcript here.