Obama deal boosts trade with Iran

The fine print of President Obama’s temporary deal with Iran could pave the way for a surge in trade, The Wall Street Journal reports.

While the deal’s sanctions relief targets specific industries such as the auto sector, it could also spark a boost in exports from U.S. and European food and drug companies, according to the Journal. That’s because even though they’re classified as humanitarian goods not subject to sanctions, international banking and insurance restrictions have made it impossible for exporters to get paid – until now.

{mosads}The deal calls on the United States and the European Union to create a special financial channel to help pay for “humanitarian trade,” the Journal reports.

Please send tips and comments to Julian Pecquet: jpecquet@digital-staging.thehill.com

Follow us on Twitter: @TheHillGlobal and @JPecquetTheHill