President Obama to water down "Buy American" Plan

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The European Union warned the US yesterday against plunging the world into depression by adopting a planned "Buy American" policy, intensifying fears of a trade war.

From the Times Online

The EU threatened to retaliate if the US Congress went ahead with sweeping measures in its $800 billion stimulus plan to restrict spending to American goods and services.

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Tags: obama, president obama, European union, buy American, stimulus plan