All the steps that must be taken to comply with the regulations add SIGNIFICANT cost for a company. And then the Government wonders why manufacturing isn't doing well in the US. They need to GET A CLUE!
If the Government doesn't want US manufacturers to use materials from the Congo, then why don't they simply ban importing those materials from the Congo? Why take such an inderect, ineffective approach that puts a significant burden on US manufacturers? It seems obvious that the Dodd-Frank regulations can't, and haven't worked. Then again, most of our lawmakers live in la-la land and haven't a clue how to actually solve a problem.
@FrankRoseEngineer While I tend to agree that the gov't has the most ineffective solution track record, I don't think that placing an embargo against the Congo is the solution. I absolutely agree with your statement about gov't regulations adding significant costs. However, those conflict materials will simply then be routed through another country first if the Congo is under embargo.
This may not be a great example, but look at how money is transfered between countries by companies to avoid taxation. I don't have a perfect solution (or any at all), but I worry that embargoes may not be the best route.
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