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PUBLIC LAW 93-500-OCT. 29, 1974

[88 STAT.

Public Law 93-500 October 29, 1974 [S. 3792]

Export Administration Amendments of 1974.

AN ACT To amend and extend the Export Administration Act of 1969.

Be it enacted by the Senate and House of Representatives United States of America in Congress assembled, SHORT

50 USC a p p. 2402 note.

of the

TITLE

1. This Act may be cited as the "Export Administration Amendments of 1974". SECTION

SHORT SUPPLY POLICY 50 USC a p p. 2402.

SEC. 2. Section 3(2)(A) of the Export Administration Act of 1969 is amended by striking out "abnormal". MONnORINO

50 USC a p p. 2403.

7 USC 612c-3.

Reports.

Shortages and increased prices, quarterly report. 50 USC a p p. 2409.

Supta.

A N D CONSULTATION

SEC. 3. (a) Section 4 of the Export Administration Act of 1969 is amended by redesignating subsections (c) through (e) thereof as subsections (d) through (f), respectively, and by inserting after subsection (b) a new subsection (c) as follows: " (c)(1) To effectuate the policy set forth in section 3(2)(A) of this Act, the Secretary of Commerce shall monitor exports, and contracts for exports, of any article, material, or supply (other than a commodity which is subject to the reporting requirements of section 812 of the Agricultural Act of 1970) when the volume of such exports in relation to domestic supply contributes, or may contribute, to an increase in domestic prices or a domestic shortage, and such price increase or shortage has, or may have, a serious adverse impact on the economy or any sector thereof. Information which the Secretary requires to be furnished in effecting such monitoring shall be confidential, except as provided in paragraph (2) of this subsection. "(2) The results of such monitoring shall, to the extent practicable, be aggregated and included in weekly reports setting forth, with respect to each article, material, or supply monitored, actual and anticipated exports, the destination by country, and the domestic and worldwide price, supply, and demand. Such reports may be made monthly if the Secretary determines that there is insufficient information to justify weekly reports." (b) Section 10 of such Act is amended— (1) by inserting " (a) " after "SEC. 10."; and (2) by adding at the end thereof the following: " (b)(1) The quarterly report required for the first quarter of 1975 and every second report thereafter shall include summaries of the information contained in the reports required by section 4(c)(2) of this Act, together with an analysis by the Secretary of Commerce of (A) the impact on the economy and world trade of shortages or increased prices for articles, materials, or supplies subject to monitoring under this Act, (B) the worldwide supply of such articles, materials, and supplies, and (C) actions taken by other nations in response to such shortages or increased prices. "(2) Each such quarterly report shall also contain an analysis by the Secretary of Commerce of (A) the impact on the economy and world trade of shortages or increased prices for commodities subject to the reporting requirements of section 812 of the Agricultural Act of 1970, (B) the worldwide supply of such commodities, and (C) actions being taken by other nations in response to such shortages or increased prices. The Secretary of Agriculture shall fully cooperate

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