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Business says no to sanctions
- Subject: Business says no to sanctions
- From: ausgeo@xxxxxxx
- Date: Wed, 02 Jul 1997 05:41:00
Asia Times News
Business says no to sanctions
2nd July 1997
A group of business advisors to United States President Bill Clinton has
recommended restricting the use of unilateral US economic sanctions and
eliminating extraterritorial sanctions and secondary boycotts.
The report from the President's Export Council, released at a council
subcommittee meeting on June 30, reflects unhappiness among many US exporters
with the burst of sanctions passed by Congress over the past two years aimed
at Cuba, Iran, Libya, Burma, Sudan and other countries.
According to the report, unilateral sanctions cost US business not only
directly by prohibiting specific transactions, but also indirectly by
encouraging foreign competitors and by tainting the reliability of US
suppliers. A recent econometric analysis estimated the value of lost exports
in 1995 at between US$15 billion and US$19 billion, affecting from 200,000 to
250,000 export-related jobs.
Besides eliminating extraterritorial sanctions, the report also recommends a
number of other restraints on unilateral sanctions, including a list of
conditions for imposing them in the first place and a target date for ending
them if they have not achieved their objective.