Marketplace®

Daily business news and economic stories

DOJ extends its reach overseas

The Department of Justice is going after companies that sell military equipment to China under the premise that the U.S. maintains jurisdiction over trade of American-made equipment regardless of where the transaction took place.

TEXT OF INTERVIEW

MARK AUSTIN THOMAS: Some British businessmen could find themselves sitting in American jails. It all has to do with efforts by the Justice Department following 9-11 to crack down on trade with so-called “rogue states.” David Robertson is a Business Correspondent with the Times of London. I asked him what explanation the Department of Justice is using to jail citizens of other countries.

DAVID ROBERTSON: Well their argument is that if you buy American-made equipment, it remains part of their jurisdiction and that way, what they’re saying, is that if it’s produced in America we are going to control where it ends up.

THOMAS: The U.S. is using this method to impact China, how and why?

ROBERTSON: What the U.S. is doing is they’re being exceedingly careful about preventing high-tech military equipment getting into China. And ITT was fined $100 million, which is quite a staggering amount of money, because they were attempting to sell night-vision goggles to that country. They would have thought they were doing entirely legally but because of this change in emphasis in this U.S. law, they’re really cracking down on it.

THOMAS: Given that Iran is a particular point of interest by the U.S., it’s interesting that the U.S. wasn’t concerned about Shell’s plans to build a huge liquid natural gas operation in Iran.

ROBERTSON: There does seem to be an issue of size here. If you’re a little guy they’ll come after you. If you’re a big guy then they don’t seem quite as interested.

THOMAS: Thanks so much David

ROBERTSON: OK no problem.

THOMAS: David Robertson is a business correspondent with the Times of London.

Related Topics

Latest Episodes

View All Shows
  • Million Bazillion
    in 8 hours
    26:59
  • Marketplace Tech
    14 minutes ago
    6:49
  • Marketplace
    12 hours ago
    26:04
  • Make Me Smart
    15 hours ago
    11:38
  • Marketplace Morning Report
    19 hours ago
    7:18
  • This Is Uncomfortable
    a month ago
    2:27
  • Financially Inclined
    2 months ago
    12:30
  • How We Survive
    2 months ago
    22:09
  • The Uncertain Hour
    4 months ago
    22:50
  • Corner Office from Marketplace
    5 years ago
    20:58