Page:United States Statutes at Large Volume 96 Part 1.djvu/1275

 PUBLIC LAW 97-290—OCT. 8, 1982

Public Law 97-290 97th Congress

96 STAT. 1233

An Act

To encourage exports by facilitating the formation and operation of export trading companies, export trade associations, and the expansion of export trade services generally.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, TITLE I—GENERAL PROVISIONS SHORT TITLE

SEC. 101. This title may be cited as the "Export Trading Company Act of 1982".

Oct. 8, 1982 [S. 734]

Export trade services, expansion. Export Trading Company Act of 1982. 15 USC 4001 note.

FINDINGS; DECLARATION OF PURPOSE

SEC. 102. (a) The Congress finds that— (1) United States exports are responsible for creating ^nd maintaining one out of every nine manufacturing jobs in the United States and for generating one out of every seveta dollars of total United States goods produced; (2) the rapidly growing service-related industries are vital to the well-being of the United States economy inasmuch as they create jobs for seven out of every ten Americans, provide 65 per centum of the Nation's gross national product, and offer the greatest potential for significantly increased industrial trade involving finished products; (3) trade deficits contribute to the decline of the dollar on international currency markets and have an inflationary impact on the United States economy; (4) tens of thousands of small- and medium-sized United States businesses produce exportable goods or services but do not engage in exporting; (5) although the United States is the world's leading agricultural exporting nation, many farm products are not marketed as widely and effectively abroad as they could be through export trading companies; (6) export trade services in the United States are fragmented into a multitude of separate functions, and companies attempting to offer export trade services lack financial leverage to reach a significant number of potential United States exporters; (7) the United States needs well-developed export trade intermediaries which can achieve economies of scale and acquire expertise enabling them to export goods and services profitably, at low per unit cost to producers; (8) the development of export trading companies in the United States has been hampered by business attitudes and by Government regulations; (9) those activities of State and local governmental authorities which initiate, facilitate, or expand exports of goods and serv-

15 USC 4001.

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