U.S. Sanctions Against Foreign Nations Are Hurting American Companies

Who are the losers from U.S. sanctions?  American companies.

Two giant U.S. business groups – the U.S. Chamber of Commerce and National Association of Manufacturers – ran ads in the New York Times, Wall Street Journal and Washington Post protesting sanctions against Russia.  These are not do-good political groups … they are conservative, hard-nosed pro-business groups.

The New York Times reports today:

American business groups have objected to unilateral sanctions, arguing that they would only hurt domestic businesses while their European competitors swooped in.

The National Association of Manufacturers said it “is disappointed that the U.S. is fundamentally extending sanctions in increasingly unilateral ways that will undermine U.S. commercial engagement and reduce the effectiveness of the measures imposed.”

Zero Hedge notes that the sanctions don’t seem to have hurt Russia much:

[The U.S. has] underperformed Russia by almost 20% since unleashing the first set of sanctions and sell recommendations ….

U.S. News and World Report pointed out in April:

Sanctioning Russia’s energy sector is a bad idea that will only marginally hurt Russia ….

Russia is the world’s third largest oil producer, and U.S. or E.U. sanctions against Russia will dramatically lower the global supply, thus raising global prices.

Bloomberg also reports that American power plants are “desperately” turning to Russia for their coal.

And sanctioning Russia has also pushed Russia to bypass US-controlled oil and gas systems altogether, and pushed Russia, China and Iran closer together.

The Wall Street Journal reports that – according to a new study – sanctions against Iran cost the U.S. as much as $175.3 billion in lost export opportunities over 18 years

In other words, by demonizing countries instead of peacefully trading with them, the U.S. is shooting itself in the foot economically.

This is not an isolated problem …

Ron Paul says that sanctions against Russia and Iran are acts of war.   Some analysis agree and others disagree.

But it has become clear that hawkish, imperialistic policies no longer benefit the American economy:

Category: Think Tank, War/Defense

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

6 Responses to “The Losers From U.S. Sanctions: AMERICAN Businesses”

  1. DeltaV says:

    It is important to provide a forum for this kind of information. However, I want to call out the inconsistency in using Zero Hedge as a source, especially when ZH tends to be a platform for Russian political statements.

    Actually, I don’t know where ZH gets it funding. I hope they are well paid. They tend to produce the best analysis around. So while I am wildly chauvinistic about the US, I also like to see the ZH perspective.

    ~~~

    ADMIN: The source of this is Washington’s Blog, who has been selectively published in these pages since 2010, not Zero Hedge.

    ZH found washingtonsblog.com through TBP, and publishes everything they write. We tend to be more selective

    • VennData says:

      Anyone who thinks Zero Hedge posts the best analysis around doesn’t invest using it. If they did, they’d be broke, angry, angrier than Larry Kudlow and Rick SanYelli

  2. temoore53 says:

    So once again Obama can’t win with the Republicans. Either he is insufficiently hawkish or he is hurting American business (if in fact these companies aren’t registered offshore…) OR both at the same time!

  3. VennData says:

    The U.S. Chamber of Commerce, the National Association and Walgreens and the other tax traitors are unAmerican. That is how the majority of Americans view them.

    People, spend your hard earned dollars accordingly.

  4. freejack says:

    “American companies” …LOL
    That is really funny. As if Multi-nationals or their hedge fund bankers recognize nation states as anything other than pawns to play off each other in a race to the bottom for 99.99% of the human race. We’ve seen this before. It is what they’ve done in the United States, playing one state against another to drive down costs and regulation. The ‘economy’ they live in is very different and almost completely disconected from the one the rest of us live in.