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Analysts Consider US National Security Policy a Pretext to Establish Trade Sanctions Against Other Countries – Economics Bitcoin News

URECOMM NEWS by URECOMM NEWS
May 2, 2023
in Crypto News
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Analysts Consider US National Security Policy a Pretext to Establish Trade Sanctions Against Other Countries – Economics Bitcoin News
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International analysts have raised concerns about the U.S. government’s usage of its national security policy as a tool to implement economic sanctions and establish blockades against countries like China and Russia. While U.S. Treasury Secretary, Janet Yellen, has stated that the U.S. is seeking a “constructive and fair economic relationship with China”, some argue that the country is putting its security policies over this concern. The actions taken by the U.S. have hurt the global economy and disrupted supply chains, according to several analysts.

Critics have called out the U.S. administration’s decision to use its national security policy as a pretext to take unjustified measures against other countries. Lewis Ndichu, from the Nairobi-based think tank Africa Policy Institute, highlighted that such a policy puts national security ahead of other important issues, which he describes as “putting the cart ahead of the horse”. The U.S.’s restrictive measures go “beyond the reasonable scope of national security”, according to Gary Hufbauer, a senior fellow at the Washington-based Peterson Institute for International Economics. He criticized the existing tariffs on aluminum and steel and questioned the government’s desire to link other non-essential items to national security, such as commodity chips and services like TikTok.

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Analysts have also linked the U.S.’s policy to politicization, with the objective of taking away other countries’ development rights. For instance, Chinese Foreign Ministry Spokesperson Wang Wenbin criticized the U.S. administration’s habitual politicization of technology and trade issues, which it uses as a tool and weapon in the name of national security. Others argue that this kind of strong-arm policy is also used by U.S. presidential candidates to win support from specific groups.

Cavince Adhere, a Kenya-based international relations scholar, stated: “Candidates running for office often use the rhetoric of being tough on China to win votes. Eventually, such campaign-driven attitudes end up informing U.S. foreign policy toward China.”

The U.S. Treasury Department has implemented numerous sanctions against countries like China, Iran, and Russia, citing national security concerns. The department has also targeted individuals and companies suspected of allegedly aiding these countries’ adverse actions. While some sanctions have targeted specific sectors and regions, others have impacted the global economy and disrupted the supply chain.

In its pursuit of preserving its financial dominance, the U.S. government has resorted to restricting the trade of specific items and obstructing its businesses from conducting business with countries like China and Russia. Such measures have been described by critics as an abusive tool, with other countries retaliating through the implementation of countermeasures.

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Despite the criticisms, the U.S. government remains resolute in its policy, citing the importance of safeguarding its national security interests. Meanwhile, some countries have started to pull away from the U.S. and form new business alliances to reduce their reliance on the American market and protect their interests.

In conclusion, there are concerns among international analysts that the U.S. government is abusing its national security policy to justify implementing economic sanctions and establishing blockades against other countries. Critics argue that such policies put national security ahead of other important issues and go beyond the reasonable scope of national security. The U.S. government has, however, remained steadfast in its policy, while some countries have started looking for new business alliances to protect their interests and reduce their reliance on the American market. It remains to be seen whether the U.S. will remain committed to using its national security policy as a tool to implement economic sanctions and establish blockades against other countries.

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