Daily Traders Edge

U.S. needs to streamline foreign arms sales approval process – McCain

February 26
01:53 2016

By Andrea Shalal WASHINGTON (Reuters) – The U.S. government needs to improve and accelerate its process for approving foreign arm sales, Senator John McCain said Thursday, warning that U.S. firms were losing billions of dollars of potential orders to countries like Russia. McCain, who heads the powerful Senate Armed Services Committee, said both the White House and State Department were too slow to process requests for arms sales from U.S. allies and coalition partners, noting he frequently received complaints from visiting defense ministers. It's not working," McCain told reporters.

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