Prohibits any investing bank holding company or any of its subsidiaries from extending credit to an export trading company on terms more favorable than those afforded to other borrowers. To promote and encourage export of trade, the Secretary may issue certificates of review and advise and assist any person with respect to applying for certificates of review. Requires every person to whom a certificate is issued to update annually the information provided on the application for issuance of the certificate. Permits an expedited application procedure. Requirement of prior authorization a General rule Notwithstanding any other provision of law, money appropriated to the Department of Commerce for expenses to carry out any export promotion program may be obligated or expended only if - 1 the appropriation thereof has been previously authorized by law enacted on or after July 12, 1985; or 2 the amount of all such obligations and expenditures does not exceed an amount previously prescribed by law enacted on or after such date.
Please sign up for our advisory group to be a part of making GovTrack a better tool for what you do. This legislation was designed to expedite greater involvement of domestic firms in international trade by encouraging the formation of export trading companies through related anti-trust and banking regulations. Requires applicants who receive certificates to report to the Secretary any changes related to the matters specified in the certificate. A section 2 h 2 , referred to in subsec. Would you like to join our advisory group to work with us on the future of GovTrack? Exempts from such prohibition civil suits for failure to comply with the standards necessary for issuance of the certificate. Authorizes such an applicant to submit an application to amend the certificate. Declares that certificates obtained by fraud are void.
Trading companies, therefore, are far from providing an automatic formula for successful exporting. Such report shall be submitted to the Congress not later than 90 days after such acquisition. Such report shall include details of any changes necessary in existing law to allow the Department of Agriculture and, in the case of petroleum resources, the Department of Energy, to implement fully any barter program. The Sherman Act 15 U. Five years after its passage, however, the Act has not led to the performance levels envisaged by its proponents. Provides for returning all application documents if an application is denied. External links to other Internet sites should not be construed as an endorsement of the views or privacy policies contained therein.
The seventh paragraph of section 13 of the Federal Reserve At 12 U. Hearings before the Committee on Banking, Housing and Urban Affairs: Subcommittee on International Finance, and Monetary policy. A is available from Adobe Systems Incorporated. Our mission is to empower every American with the tools to understand and impact Congress. The Insurance Act, referred to in subsecs. Authorization of appropriations There are authorized to be appropriated to the Department of Commerce to carry out export promotion programs such sums as are necessary for fiscal years 1995 and 1996. The magnitude of United States trading deficits in recent years influenced Congress to pass the Export Trading Company Act in 1982.
The notice shall include a statement of the circumstances underlying, and the reasons in support of, the determination. Amends the Federal Trade Commission Act to provide that such Act shall not prohibit unfair methods of competition involving commerce, other than import commerce, with foreign nations unless such methods have a direct, substantial, and reasonably foreseeable effect on domestic or import commerce or on the export commerce of a domestic person. Any action commenced under this subchapter shall proceed as if it were an action commenced under Section 15 or section 26 of this title, except that the standards of section 4013 a of this title and the remedies provided in this paragraph shall be the exclusive standards and remedies applicable to such action. Requires the Secretary to explain a denial of an application. Section 25 of the Reserve Act, referred to in subsec. Rules and regulations The Secretary, with the concurrence of the Attorney General, shall promulgate such rules and regulations as are necessary to carry out the purposes of this chapter. Sections and of this title, referred to in subsec.
For classification of , see Short Title of 1970 Amendment note below. For Purposes of the preceding sentence, an extension of credit shall not be deemed to include any amount invested by a bank holding company in the shares of an export trading company. Anyone who hopes to master the skills of exporting cannot fail to be interested in the extraordinary record of the Japanese trading companies, and in the echo of that record produced by their imitators in Korea. Exempts the guidelines from certain requirements of the Administrative Procedures Act. There are two possible explanations for this.
The goal of this legislation was to promote U. Protection conferred by certificate of review a Protection from civil or criminal antitrust actions Except as provided in subsection b of this section, no criminal or civil action may be brought under the antitrust laws against a person to whom a certificate of review is issued which is based on conduct which is specified in, and complies with the terms of, a certificate issued under section 4013 of this title which certificate was in effect when the conduct occurred. A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law. Establishes a procedure for the review of proposed investments in export trading companies. McClelland, David 1961 , The Achieving Society, New York, The Free Press.
Additionally, export trading may help manufacturers find overseas buyers and provide them with other pertinent market information. Disclosure of information a Exemption Information submitted by any person in connection with the issuance, amendment, or revocation of a certificate of review shall be exempt from disclosure under section 552 of title 5. Within the context, many have questioned the longstanding practice in which countries provide exemptions from national antitrust laws to firms engaged in joint export activities. The effective date of an amendment shall be the date on which the application for the amendment is submitted to the Secretary. Provides for judicial review of the granting, denial, revocation, or modification of a certificate of review. Please join our advisory group to let us know what more we can do. Report to the Chairman, Subcommittee on Commerce, consumer and Monetary Affairs, Committee on Government Operations, House of Representatives.
The Secretary, with the concurrence of the Attorney General, shall promulgate such rules and regulations as are necessary to carry out the purposes of this Act. This paper discusses the key reasons for the lack lustre performance of domestic firms in international trade, in general; identifies the key factors peculiar to smaller firms which contribute to the reluctance of such firms to engage in international trade and use export trading companies for launching exporting programmes; and offers some suggestions for overcoming these problems. Directs the Export-Import Bank of the United States to provide loan guarantees for expansion to export trading companies or exporters when adequate financing is not otherwise available. Sets forth the procedure for revoking a certificate. Authorizes the Attorney General, notwithstanding the general prohibition, to sue under the Clayton Act to enjoin conduct threatening clear and irreparable harm to the national interest.