February 09, 2018
Trump’s Use of Sanctions May Be Unsustainable
A year into his presidency, President Donald Trump has become an aggressive practitioner of economic sanctions. So far, the Treasury Department has added over 700 people, companies, and government agencies to sanctions lists. The administration has also increased other forms of economic pressure on North Korea and Venezuela. Its tactics are different too. Trump has threatened to rip up the Iran nuclear deal, thereby abandoning a multilateral approach to the application of financial sanctions on Iran.
Trump’s use of sanctions has notched some notable wins. Three rounds of North Korea sanctions adopted by the U.N. Security Council last year will, if fully enforced, cut off 90 percent of North Korea’s pre-sanctions export revenues. Sanctions on Venezuela target President Nicolas Maduro, who has presided over a humanitarian catastrophe that prompted over half a million Venezuelans flee in the last two years and caused hunger and child mortality rates to soar. U.S. sanctions have dramatically increased pressure on Caracas.
But there are worrying signs that Trump’s use of sanctions may not be sustainable. The administration needs a long-term strategy to shore up multilateral cooperation, prevent career staff burnout and departures, and get ahead of emerging trends that threaten to undercut U.S. sanctions dominance. Absent a holistic plan, America’s dealmaker-in-chief risks leaving his successors with a much weaker tool to deploy against future national security threats.
Read the full article in Foreign Policy.
More from CNAS
-
Trump’s Trade War w/ Canada Is Just Getting Started!" | Edward Fishman PT 2
In the second part of this enlightening episode with Edward Fishman, the focus shifts to the broader implications of economic warfare in today's geopolitical climate. Edward a...
By Edward Fishman
-
China Highlights Imbalance in U.S. Economic Security Strategy
To promote balanced use of protective measures, the Trump administration should develop a national economic security strategy....
By Adam Tong
-
“Chokepoints” with Edward Fishman
Emily and Geoff are joined by Eddie Fishman to discuss his new best-selling book Chokepoints, on how America has weaponized the global economy. They share economic war stories...
By Emily Kilcrease, Geoffrey Gertz & Edward Fishman
-
Sanctions by the Numbers: 2024 Year in Review
Washington’s economic statecraft has expanded in recent years, largely in response to Russia’s war in Ukraine, competition with the People’s Republic of China...
By Eleanor Hume & Kyle Rutter