§5624 — Title 7 Agriculture | U.S. Code

Summary

Allows the Secretary or the Commodity Credit Corporation (CCC) to trade U.S. farm commodities for foreign goods under rules they set. Eligible commodities: two types — those the CCC got through price-support operations, and those the Secretary or CCC already owns and can sell. The Secretary/CCC must encourage and may help exporters use barter to get needed foreign products and to grow foreign markets. They must give technical help if an exporter asks. The Secretary/CCC may transfer foreign goods gained by barter to other federal agencies if they are paid back in the same fiscal year. The CCC keeps its normal authority to buy, hold, or sell foreign materials. The Secretary/CCC must try to prevent misuse of barter programs, such as replacing regular U.S. sales, upsetting world prices or trade, or letting goods be resold or shipped to the wrong countries.

Title 7, §5624

Agriculture — Source: USLM XML via OLRC

(a)The Secretary or the Commodity Credit Corporation may provide eligible commodities in barter for foreign products under such terms and conditions as the Secretary or the Corporation shall prescribe.

(b)Unless otherwise specified, eligible commodities shall include—

(1)agricultural commodities acquired by the Commodity Credit Corporation through price support operations; and

(2)agricultural commodities acquired by the Secretary or the Commodity Credit Corporation in the normal course of business and available for disposition.

(c)(1)The Secretary or the Commodity Credit Corporation shall encourage exporters of agricultural commodities to barter such commodities for foreign products—

(A)to acquire such foreign products needed by such exporters; and

(B)to develop, maintain, or expand foreign markets for United States agricultural exports.

(2)The Secretary or the Commodity Credit Corporation may provide eligible commodities to exporters to assist such exporters in barter transactions.

(3)The Secretary or the Commodity Credit Corporation shall provide technical advice and assistance relating to the barter of agricultural commodities to any United States exporter who requests such advice or assistance.

(d)The Secretary or the Commodity Credit Corporation may transfer any foreign products that the Secretary or such Corporation obtains through barter activities to other Government agencies if the Corporation receives assurances that it will receive full reimbursement from the agency within the same fiscal year in which such transfer occurs.

(e)Nothing contained in this section shall limit the authority of the Commodity Credit Corporation to acquire, hold, or dispose of such foreign materials as such Corporation determines appropriate in carrying out the functions and protecting the assets of the Corporation.

(f)The Secretary or the Commodity Credit Corporation shall take reasonable precautions to prevent the misuse of eligible commodities in a barter or exchange program, including activities that—

(1)displace or interfere with commercial sales of United States agricultural commodities that otherwise might be made;

(2)unduly disrupt world prices of agricultural commodities or the normal patterns of commercial trade with recipient countries; or

(3)permit the resale or transshipment of eligible commodities to countries other than the intended recipient country.

Editorial Notes

Amendments

1991—Subsec. (d). Pub. L. 102–237 amended heading and substituted “Government” for “government” in text.

§5624 Barter of agricultural commodities

Summary

Title 7, §5624

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata