Business Supports Rules in FTAs, BITs on Capital Controls

By Webmaster on February 14, 2011 8:19 AM
On February 7, U.S. Chamber President Thomas J. Donohue, along with 16 other association CEOs, sent a letter to Secretaries Clinton, Geithner and Locke, Ambassador Kirk, Chairman Bernanke and Chairman Goolsbee regarding recent calls to change the capital control rules in U.S. trade agreements and bilateral investment treaties (BITs). The letter read in part: "From a policy perspective, [recent proposals] would undermine the very policies the President is actively promoting: expanding U.S. exports; supporting and generating good-paying American jobs; and advancing broader national economic, foreign policy and national security objectives, such as the rule of law, anti-corruption disciplines, poverty reduction and political stability."

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