Caterpillar CEO on Buying American

May 24, 2009
By Chris Richter

A segment on tonight’s 60 Minutes looked at the “buy America” clause in the stimulus package through the lens of the steel industry. In the piece, Caterpillar CEO and chair Jim Owens ’68, ’70 MT, ’73 PHD talked about the challenges he believes his company and others could face:

“If we have a ‘buy America’ clause, other countries are going to have a ‘buy China,’ ‘buy Europe,’ ‘buy Brazil’ clause, and they’re going to discriminate against our exported products,” Owens predicted.

The segment, which is after the jump, originally aired in February.

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