US President Donald Trump is well known for his passion to introduce sanctions left and right. His generosity in this matter has long become an object of jokes and scorn.
However, the US economy is suffering losses due to such an unwise policy. Sanctions have already cost the country a pretty penny. In the near future, the situation will become only worse. By imposing sanctions sometimes without a particular reason, Washington may lose all its allies as well as deprive the US dollar of the title of the main reserve currency. The devastating sanctions policy has already delivered a severe blow to the US economy. Importantly, Donald Trump has imposed more sanctions than any of his predecessors. To compare, he approved 700 sanctions against Iran just in a day in 2018. At the same time, if earlier, sanctions were introduced mainly against the US opponents, now restrictions are also imposed on allies, e.g. Turkey and Iraq. Even Germany, the oldest and time-proven ally, faced sanctions after the country openly supported Nord stream-2. It may seem that sanctions are an inexpensive and effective foreign policy tool. Yet, this is quite the opposite.
"In fact, they do have costs. As with tariffs, the average American consumer pays for these policies, but the costs are spread thinly across the citizenry. And though sanctions can cause real pain to the target, they have rarely been effective at what is often the underlying goal: regime change. The governments of Cuba, Venezuela, Iran and North Korea are all still standing after decades of sanctions", Washington Post columnist Fareed Zakaria said.
