The European Institute hosted The Honorable Eric Hirschhorn, U.S. Under Secretary of Commerce for Industry and Security, who discussed the challenges facing the implementation of President Obama’s export control initiative and the implications for the transatlantic trade relationship. Under Secretary Hirschhorn said that the President’s initiative will not only streamline export control processes but will also cut the number of items protected by current controls and require licenses for fewer components. The Under Secretary emphasized that the reforms under consideration should not place any additional legal burden on U.S. companies, and that the Administration's goal is to make the process less cumbersome and more hospitable to growing the export market. Under Secretary Hirschhorn remained hopeful that the U.S. Congress would take up the export control legislation this year, or at the latest, early next year.
Click here to read the full text of Under Secretary Hirschhorn's remarks.
