North Korea nuclear negotiations

Wendy Sherman was the Clinton administration's policy coordinator for North Korea. The Clinton Administration had first arrived at the 1994 Agreed Framework under which North Korea agreed to freeze and dismantle its nuclear weapons program, including its main reactor at Yongbyon (Sherman continues to defend the 1994 deal and her involvement in it, stating that "during the Clinton administration not one ounce of plutonium was added to the North Korean stockpile").^[17] Sherman later headed North Korean negotiation policy until 2001.^[18][13] In 2001, following years of secret negotiations with Kim Jong Il, North Korea had promised not to produce, test or deploy missiles with a range of more than 300 miles. That offer would prevent North Korea from fielding missiles that could strike the United States. North Korea also offered to halt the sale of missiles, missile components, technology and training.^[19]

In 2001, in a New York Times op-ed, Sherman recommended that the only way the US deal could deal with North Korea's disputed programs and prevent them achieving a nuclear capability was through diplomacy, writing that Kim Jong Il now "appears ready to make landmark commitments."^[18]

In 1999, James Baker criticized her team's negotiating strategy with North Korea as "appeasement" that was rewarding the North Korean regime for minimal concessions, and he said that as a result they would fail to prevent their nuclear program.^[20] In 2011, John Bolton said that Wendy Sherman had been central in forming a policy on North Korea that was "nothing less than appeasement."^[21]

Fannie Mae

From April 1996, Sherman became founding president and CEO of the newly created Fannie Mae Foundation, which was developed by Fannie Mae and endowed with $350 million in Fannie stock, with the goal of promoting home ownership and mortgages across wider sectors of American society. She has also been a member of the operating committee of Fannie Mae. At Fannie Mae, she set in place the groundwork for the newly recreated foundation.

In 1996, she described her mission as the first president of the Fannie Mae Foundation:

In other words, it is broadly reaching out to American citizens and saying to them: "You can have access to affordable housing. You might be able to get started on the path to homeownership, and we can at least give you some information that might help you get on your way."

In addition, two other programs came over. One is the New Americans Program, which is an effort to reach out to new citizens and immigrants to this country, because it was found in some research done in 1995 by Fannie Mae that immigrants who are renters are three times more likely to become homeowners than are other renters – because part of the American dream is to become a citizen and own your home.

The last piece is an initiative trying to end some of the discriminatory practices in the mortgage lending business. We have a beginning of a program, where we are going to work with community colleges and other partnerships to help folks take courses and get into the mortgage lending business, so that the people who sit across the table – they become loan officers – may look a little bit more like you, might understand your culture and your values.^[16]

Chief nuclear negotiator with Iran

Under Secretary Sherman meets with Yossi Cohen, national security advisor to the prime minister of Israel, at the U.S. Department of State in Washington, D.C., on February 18, 2015

In October 2013, before negotiations began in Geneva between Iran and the so-called "P5+1," she made a comment about the Iranian negotiating strategy in a Senate committee hearing. She said, "We know that deception is part of the DNA."^[29] This caused her some trouble when a number of Iranian officials, including some members of the country's parliament, asked her to apologize.^[30] She served as the lead negotiator for the United States in the agreement reached with Iran on July 14, 2015, in Vienna.^[31]

Remarks on East Asia

On February 27, 2015, Sherman told a conference at Carnegie Endowment for International Peace "The Koreans and Chinese have quarreled with Tokyo over so-called comfort women from World War II. There are disagreements about the content of history books and even the names given to various bodies of water. All this is understandable, but it can also be frustrating." She continued, "Of course, nationalist feelings can still be exploited, and it's not hard for a political leader anywhere to earn cheap applause by vilifying a former enemy. But such provocations produce paralysis, not progress." Her comments were condemned by South Korea, but an analyst at the Asan Institute for Policy Studies said the reaction to Ms. Sherman's remarks seemed excessive, and that her comments were in line with US policy.^[32][33]