Obama’s New Policy On Jet Parts To Increase Exports
A recent policy passed by the Obama Administration is allowing parts of fighter jets to be sold with less regulation. This policy would increase the amount of exports of these parts because manufacturers no longer need a special license. Though certain parts of fighter jets are under less regulation, other parts of fighter jets that may be deadly are still under strict supervision. Common parts of fighter jets are no long considered to be military goods but are now considered to be commercial goods. The passing of this new policy makes the global market for this product more competitive.
Since national debt is so high, this policy may be able to lower our debt in that it will increase the exports that we have. The amount of products that America exports is limited to certain fields, but this policy opens up the amount of products that America can export. Countries all over the world such as China has high numbers in exports, and in order to compete with China, it is beneficial to America if they increase the amount of products they can export.
Written by: Jessica Ho
Source: The Wall Street Journal