Canada’s International Trade Minister Peter Van Loan announced Friday that Canadian companies will now be exempted from the so-called Buy American Act.

Previously, Canadian suppliers of iron, steel and other construction materials were not allowed to bid on US public infrastructure projects financed by the multi-billion dollar recovery plan set forth by the Obama administration.

I spoke with Ian Lee, the director of the MBA program at Carleton University’s Sprott School of Business, and Ron Watkins, the president of the Canadian Steel Producers Association, to find out what will be the impacts of the new trade agreement between Canada and the United States.

I will post shortly the radio report I prepared for Carleton’s Radio News.