Despite tensions between the U.S. and Iran, Iran has spent nearly twice as much during the first few months of 2009 than during the same period in 2008. For Associated Press story, click here. According to the trade data compiled by the World Institute for Strategic Economic Research in Holyoke, Mass., even with trade sanctions against Iran
[s]oybeans, wheat and medical supplies — all considered humanitarian items exempt from U.S. trade sanctions — are among the top exports this year.The increases in agricultural commodities are due poor harvests in Iran. Allowing exports of grains, medical supplies, and other humanitarian relief, the U.S. is trying to send a message that it is a friend to the Iranian people and has no intent on punishing them for the actions of their government. But the National Foreign Trade Council is cautioning people not to read much into the trade data with Iran. According to Bill Reinsch with the Council,
he is hearing from more businesses interested in Iran. But beyond an effort by the Obama administration to encourage talks with Iran, he hasn't seen any policy changes that would lead to more opportunities for U.S. businesses.Posted: 06/23/09
