When congress included a "buy ameri-can" clause in the $787 billion stimulus package, mandating the use of U.S.-made iron and steel in stimulus-funded projects, critics decried it as dangerous protectionism. China in particular was displeased; its official news agency likened the clause to "poison." Turns out two can play the protectionist game. Beijing's recent decision to stick a "buy Chinese" clause into its own $586 billion stimulus package now has much of the West crying foul. On June 23, the U.S. and the EU complained to the World Trade Organization, alleging that Chinese export taxes of up to 70 percent on raw materials violate international trade regulations. Problem is, China never signed the WTO agreement banning discrimination aqainst foreign suppliers.
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