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pnop (< 20) Submitted: 1/29/2009 3:32:23 PM : Start Price: $1.57 CIIC Score: +52.84

'Buy American' Rider Sparks Trade Debate

The stimulus bill passed by the House last night contains a controversial provision that would mostly bar foreign steel and iron from the infrastructure projects laid out by the $819 billion economic package.

"There is no company that is going to benefit more from the stimulus package than Caterpillar, but I am telling you that by embracing Buy American you are undermining our ability to export U.S. produced products overseas," said Bill Lane, government affairs director for Caterpillar in Washington. More than half of Caterpillar's sales -- including big-ticket items like construction cranes and land movers -- are sold overseas.

http://www.washingtonpost.com/wp-dyn/content/article/2009/01/28/AR2009012804002.html