JETRO Chief Voices Concerns over U.S. Move toward Protectionism

Washington, March 4 (Jiji Press)--Japan External Trade Organization Chairman Yasuo Hayashi expressed concerns Wednesday that the "Buy American" provision in U.S. economic stimulus law could help spur moves toward protectionism.

A tilt toward protectionism in the United States would not only
weaken its economic competitiveness but also help prolong the global
economic slump in a vicious cycle, Hayashi said at a seminar here.
While showing understanding of U.S. President Barack Obama's focus
on revitalizing the domestic economy, Hayashi urged Obama to reject
protectionism.
The "Buy American" provision stipulates that only U.S.-made goods
such as steel products be used in public works projects, raising concerns
among major countries including Japan.
Hayashi said he hopes the Obama administration will continue to be
involved in efforts for economic integration in East Asia. Japan and the
United States can cooperate in the fields of financial crisis, the
environment, energy, food safety and promotion of free trade, he added.