U.S. business welcomes Obama export control review
U.S. high-technology exporters on Friday welcomed President Barack Obama’s decision to undertake a comprehensive review of U.S. export controls rooted in Cold War fears of the former Soviet Union.
“The economic and security challenges our country faces continue to grow more complex, and we must have a modern export control system that protects U.S. technology while allowing us to cooperate and trade with our close allies and partners,” Marion Blakey, president of the Aerospace Industries Association, said in statement.
Many U.S. companies are frustrated by licensing and procedures that limit export sales of commercial high-tech goods that also have military applications. They complain countries such as China can easily buy some of the technology on the open market from other suppliers.
Beijing also has pressed Washington to loosen restrictions, arguing that would help close the U.S. trade deficit with China, which reached a record $268 billion last year.
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