Iran, EU, President Trump discussed on Marketplace All-in-One

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Planet them Michigan, where big ideas and mobility are born. Companies may find their darned as they do and darned if they don't on Iran, I'm David Brancaccio in New York. US sanctions on Iran go into effect today. President Trump pulled out of the two thousand fifteen multinational deal in may marketplace's Reema, Chris reports on a paradox here, the US sanctions, banning Ron from buying dollars trading and gold steel or motive parts. They also punish foreign companies, many European that trade with Iran, what's the EU countries take on all this shortly negative. They seem to be United in their opposition to what Trump is doing. Bill Reinsch is a trade expert at the center for strategic and international studies. He says the EU prefers to stick with Iran nuclear deal and has revived a statute that blocks companies complying with the American sanctions. If they do business in Iran, they're violating our sanctions. And if they don't do business in Iran, they'll be violating the us blocking statute. So. Our hosed either way, retake yo with the council on foreign relations says, most businesses would prefer to upset the EU than the US go against the American sanctions and you will forfeit your access to the American market. Now, that's a pretty big deal because the American market is so much bigger than Iran's. I'm Reema crease for marketplace. Beleaguered Wells Fargo Bank has disclosed that its mistaken calculations may have led it to wrongly deny loan modification applications for more than six hundred customers leading to about.

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