Tuesday, January 05, 2010
Time to Retire the Reset
One needs to spend political capital to convince Congress to repeal Jackson-Vanik. At the moment there does not appear to be a sound reason for Obama's administration to do it. The political will is not there since the administration has more important worries. And the volume of US-Russia trade is laughable (as compared to other “large” economies), so Russia is not quite relevant economically to be fought for. Finally, it is perceived as a leverage over Russia by many in Congress, so they will not give it up easily.