USA*ENGAGE Praises Greenspan Comments on Engagement and Shares His Concern about Thompson Amendment

Wednesday, 26 July 2000

"I think it's very much to our advantage to significantly increase involving them in free trade, open market economics, and basically the type of dynamics which raise standards of living, and I think ultimately create significant changes in societies," Greenspan told the Committee. "The only thing that strikes me as a reasonable expectation is it [the Thompson amendment] can harm us more than it would harm others. And therefore I must say, Mr. Chairman, I do join you in your concerns about that amendment."

Frank Kittredge, Vice Chairman of USA*ENGAGE and President of the National Foreign Trade Council, said Greenspan's comments are "important and timely," and hoped that they would help convince members of Congress that the Thompson amendment should be rejected.

"We urge the Senate to heed Mr. Greenspan's warning," Kittredge said. "No one doubts that non-proliferation is in the highest U.S. national interest. We must, however, choose effective methods to deal with it. The Thompson amendment would not be effective."

USA*ENGAGE is a coalition of 670 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. For more information on USA*ENGAGE and the harmful effects of unilateral trade sanctions, visit the USA*ENGAGE web site at www.usaengage.org.

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