• require that any new trade sanctions be justified by national security, • repeal existing sanctions that fail to meet the national security criterion, • set a time limit on any new trade sanctions, • require the president to consult with Congress following the imposition of sanctions by executive order, • give the president authority to waive any sanction in the national interest, • require an analysis of the cost to the U.S. economy of all current and proposed trade sanctions, and • provide compensation to U.S. citizens whose investments are lost or substantially devalued as a result of U.S. sanctions policy.
Using trade as a weapon of foreign policy has harmed America's economic interests in the world without significantly advancing national security. The proliferation of trade sanctions in the 1990s was accompanied by their declining effectiveness. From Cuba to Iran to Burma, sanctions have failed to achieve the goal of changing the behavior or the nature of target regimes. Sanctions have, however, deprived American companies of international business opportunities, punished domestic consumers, and hurt the poor and most vulnerable in the target countries.
Cataloging U.S. sanctions is no easy task (Table 61.1): no single agency or department is responsible for their administration, and no national sanctions database exists. The International Trade Commission has counted at least 100 unilateral economic sanctions that are currently in force. Many of those sanctions are relatively new. According to the president's Export Council, the United States has imposed more than 40 trade sanctions against
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Publication information: Book title: Cato Handbook for Congress:Policy Recommendations for the 106th Congress. Contributors: Edward H. Crane - Editor, David Boaz - Editor. Publisher: Cato Institute. Place of publication: Washington, DC. Publication year: 1999. Page number: 629.
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