While conceptually the fundamental objectives of these U.S. sanctions may have merit, unilateral sanctions can deprive contractors of access to certain global markets and business opportunities. Further, the sanctions place U.S. contractors at a competitive disadvantage in bidding for international projects. U.S. foreign policy should not prohibit businesses from competing internationally and gaining access to foreign markets. Finally, regional development banks have been created to spur economic growth and infrastructure development in certain distressed areas. More importantly, these banks make it easier to provide safer roads, and adequate water and sewage treatment in these developing areas.
Trade sanctions are effective in realizing U.S. foreign policy objectives abroad.
OPIC and EXIM give U.S. contractors the tools they need to compete globally, which, in turn, creates jobs and promotes a healthy economy. Those that advance unilateral trade sanctions against the world's despotic countries often have noble goals. Unilateral trade sanctions have been withdrawn after proving unsuccessful and damaging to U.S. business, however. All Rights Reserved.