USA*ENGAGE Cites High Cost of U.S. Sanctions

Wednesday, 1 October 1997

Speaking at an EABC press briefing, Lane cited EABC as the latest in a long list of recent studies that document the ineffectiveness and negative impact of U.S. unilateral sanctions. "In a town where few agree on anything, it is remarkable to see the President's Export Council, the Heritage Foundation, the Institute for International Economics, the Cato Institute, and now the European-American Business Council all share similar views on unilateral sanctions."

"What is needed is a more reasoned, deliberative process by which the United States fully considers the negative implications of unilateral sanctions, and the benefits of engagement and multilateral cooperation," said Lane. "The EABC study is particularly helpful in illustrating how widespread the effects of U.S. sanctions -- particularly the high costs that are imposed on American businesses and their workers."

The EABC study, entitled Is the Price Too High? -- The Costs of U.S. Sanctions Policies found that 80 percent of the companies it surveyed, including 94 percent of the U.S.-owned companies, claimed to be harmed by U.S. economic sanctions.

"Since 1993 we have witnessed a proliferation of sanctions at the federal, state and local levels. We may be accused of stating the obvious, but it is increasingly clear from the mounting evidence that unilateral sanctions just don't work," Lane concluded.

USA*ENGAGE is a coalition of 645 small and large businesses, agriculture groups and trade associations working to seek alternatives to the proliferation of unilateral U.S. foreign policy sanctions and to promote the benefits of U.S. engagement abroad.

Contact: Eric Thomas at 202-822-9491


Read the EABC study