CANADIAN RETALIATION - AT 9:23 A.M. ET:  We may cheer when "buy American" provisions are included in American law.  But, ultimately, they backfire:

WHISTLER, British Columbia (AP) — Canadian mayors have passed a resolution that would potentially shut out U.S. bidders from local city contracts.

The resolution is in retaliation to "Buy American" provisions in President Barack Obama's stimulus bill. Mayors voted 189-175 to approve the resolution at the Federation of Canadian Municipalities conference in Whistler, British Columbia.

COMMENT:  What did we expect?  That provision should have been dropped from the stimulus bill.  But we seem to be in a period where we punish our friends and reward our enemies.

There are negotiations under way between Washington and Ottawa to forge some kind of compromise.  I certainly hope so.

June 7, 2009