§4712 Barter and countertrade

Summary

The President must set up a team of government agencies to study and advise on countertrade and offsets. The Secretary of Commerce will lead that team. The team must look at how countertrade affects the U.S. economy, how it is used in U.S. exports and foreign aid, and whether the U.S. should try to make international rules about countertrade through groups like the Organization for Economic Cooperation and Development. The team will send recommendations to the President and Congress. Other agencies must give the team requested information, and existing rules that protect secret information still apply to team members. The Commerce Department’s International Trade Administration must have an Office of Barter, led by a Director picked by the Secretary of Commerce, with staff the Secretary assigns. The office must watch barter trends, collect and share useful information for businesses and government, publish lists of barter opportunities, tell U.S. agencies overseas when using surplus government goods for barter would help, and help companies find barter and countertrade deals.