G7 to eye "Buy American" policy: Canada

Tue Feb 10, 2009 1:54pm EST
 
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OTTAWA (Reuters) - The U.S. "Buy American" policy will be in the spotlight at this weekend's meeting of the Group of Seven leading industrialized nations, a senior Canadian finance official said on Tuesday.

The official, briefing reporters on condition on anonymity, said the meeting would give ministers the chance to affirm a commitment to free trade and to discuss reforming financial institutions.

He said the point to emphasize would be that measures to promote domestic consumption -- a reference to the "Buy American" policy in the U.S. stimulus bill -- are not helpful in promoting global growth and stability. He also said he expected some discussion of currencies.

(Reporting by Randall Palmer and Louise Egan; editing by Peter Galloway)