Buy American’ Rule for Keystone Pipeline Dropped After Ex-Foreign Steel Exec Became Commerce Secreta

[guno]

Bend over rubes, sans the Vaseline



The Trump administration’s decision to exempt the Keystone XL pipeline from “Buy American” rules could benefit one company in particular: the steel giant that newly minted Commerce Secretary Wilbur Ross invested in and helped run for a decade.

Two days after Ross was confirmed, the White House announced that Commerce will not apply those rules to the project. “The Keystone XL Pipeline is currently in the process of being constructed, so it does not count as a new, retrofitted, repaired or expanded pipeline,” a White House spokesperson told Politico.

The pipeline’s exemption from Buy American rules could benefit Luxembourg-based company ArcelorMittal, the world’s largest steel manufacturer. Ross, a billionaire investor and leveraged buyout specialist, sat on the company’s board until Wednesday, and in January disclosed equity holdings of between $750,000 and $1.5 million.

‘Buy American’ Rule for Keystone Pipeline Dropped After Ex-Foreign Steel Exec Became Commerce Secretary

 

[ABikerSailor]

Yep, go ahead and use that inferior steel from overseas. I mean, it's only a pipeline that runs over the main water supply for the midwest filled with oil.

 

[shockedcanadian]

Canada has cautiously celebrated this decision as found in papers over here, there are many pundits on tv suggesting that Trump is "finally coming around" and that most of his promises in his campaign won't be kept. If so, Canada may be free to continue it's 30+ years of stabbing America in the back and violating trade agreements.

This could be the start of a steep decline if one by one his words, promises and whatnot carry little weight. If that is the case, he will be a good four and punt president, I cannot see the same people who switched parties to do so again when their plights haven't improved much.