Economy
Alaska Calls Canada’s Bluff
Written by Sandy Williams
January 22, 2015
Alaskan plans to upgrade the Prince Rupert ferry terminal have been scrapped after Canada moved to bar a Buy America requirement for contract bids on the project. The enactment of a ruling under the Foreign Extraterritorial Measures Act would have imposed fines of up to $1.5 million (US $1.2 million) and/or jail time for corporations or individuals who disregarded the Canadian ruling.
The upgrade, which was to be funded primarily by the U.S. Federal Highway Administration, would have required American made iron and steel products used to be used for construction, despite the terminal’s location on Canadian soil.
In late November, British Columbia Premier Christy Clark told reporters, “This is our country, it is our land, it is our port, it is our laws and the Americans are building a facility here in Canada, in our province, where we aren’t allowed to have a chance to supply or fabricate the steel. That’s just wrong.”
The state of Alaska canceled all bids on Wednesday leaving the future of the terminal in question. According to Patricia Eckert, the associate director for international trade within the governor’s office, normal operations at the port can be maintained “over the next several years until this is sorted out.”
The Alaska Marine Highway System signed a 50-year lease with the Prince Rupert Port Authority in 2013. The $10-$20 million project was expected to be completed in 2016.
Sandy Williams
Read more from Sandy WilliamsLatest in Economy
Steel groups welcome passage of budget bill
Steel trade groups praised the passage of the Big Beautiful Bill (BBB) in Congress on Thursday.
Industry groups praise Senate for passing tax and budget bill
The Steel Manufacturers Association and the American Iron and Steel Institute applauded the tax provisions included in the Senate's tax and budget reconciliation bill.
Chicago PMI dips 0.1 points in June
The Chicago Purchasing Managers Index (PMI) slipped 0.1 points to 40.4 points, in June.
Multi-family pullback drives housing starts to 5-year low in May
US housing starts tumbled in May to a five-year low, according to figures recently released by the US Census Bureau.
Architecture firms still struggling, ABI data shows
Architecture firms reported a modest improvement in billings through May, yet business conditions remained soft, according to the latest Architecture Billings Index (ABI) release from the American Institute of Architects (AIA) and Deltek.