IRmep Policy Brief
(Forecast U.S. Service and Manufacturing Jobs tied to Saudi Imports)
The Saudi Arabia Accountability Act of 2003 now under consideration in Congress is rife with problems. Although the bill hopes to address the global scourge of terrorism, evidence cited in the act is inaccurate, obsolete, or narrow to the point of discriminatory.
A consequence of passing the bill into law would be heavy US employment losses. In 2003 US global exports partially recovered from post 9/11 trade declines. US exports to Saudi Arabia currently provide 124,000 jobs in America and should reach 177,000 by 2012. However, like many other countries, Saudi Arabia has shown a capability for self-defense through economic retaliation. This could translate into 81,000 lost jobs in the US beginning in 2004.
Most Americans reject disinformation and haste as a basis for sound solutions to complex global problems, especially in the Middle East. The Saudi Arabia Accountability Act lacks the integrity, accuracy and responsibility that form the foundation of American law.