No short-term action should be expected on sanctions, export controls or foreign investment scrutiny, as President Joe Biden takes over U.S. trade policy following President Donald Trump's thorough shake-up of traditional policy, lawyers said on a Thompson Hine webinar Jan. 19. The Trump administration made significant policy changes in all three of these areas, and it appears Biden will shy away from any immediate course reversal due to a stated desire to focus initially on domestic concerns and to use Trump measures as a leverage point in future negotiations, lawyer David Schwartz of Thompson Hine said. The only difference the lawyers predict for the Biden administration will be in the general approach to these issues, with a special emphasis on a more measured tone, they said. For instance, while the sanctions themselves may stay in place, Biden will shift from dubbing the White House's approach to Iran as a “maximum pressure” campaign to one that applies “compliance pressure,” Schwartz said. He also predicts a more measured use of the Specially Designated Nationals and Blocked Persons List to promote multilateral cooperation.
Jacob Kopnick
Jacob Kopnick, Associate Editor, is a reporter for Trade Law Daily and its sister publications Export Compliance Daily and International Trade Today. He joined the Warren Communications News team in early 2021 covering a wide range of topics including trade-related court cases and export issues in Europe and Asia. Jacob's background is in trade policy, having spent time with both CSIS and USTR researching international trade and its complexities. Jacob is a graduate of the University of Michigan with a B.A. in Public Policy.
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