According to a study NAM released in March, the sanctions legislation currently being considered in Congress would cost the U.S. at least $25 billion in exports and 210,000 jobs each year. As part of its methodology, the group sought “impact estimates from individual U.S. companies likely to be affected.” They’re just not saying which companies.
To be sure, new restrictions likely would be somewhat costly for U.S. firms–otherwise K St. wouldn’t be making such a fuss over the issue. In addition to NAM and the Chamber, the Business Roundtable and the National Foreign Trade Council say the legislation is too restrictive. (To be fair, all of these groups have prominently noted that they’re also very concerned about Iran‘s nuclear ambitions.) Individually, many large U.S. companies including General Electric, Exxon Mobil, Lockheed Martin and Boeing have been lobbying on the issue.
But it’s hard to say just how costly the sanctions might be. At least as long at NAM’s estimates remain fuzzy.
