PRIA, Government Policy, Made Personal

Summary

Within 90 days after July 12, 1985, the Secretary of Agriculture and the Secretary of Energy must send Congress a report on Federal programs that trade Commodity Credit Corporation farm commodities for goods made in other countries. The report must say what legal changes, if any, are needed so Agriculture and, for oil matters, Energy can run such barter programs. The President may trade government-owned farm stocks for foreign oil or other materials important to the national interest when normal sales would not happen. The President may also buy foreign oil or other vital materials that U.S. people obtained by bartering U.S. farm exports sold in normal commercial channels. These actions do not cancel other laws about storing, distributing, or using the acquired oil or materials. The President must protect regular export markets from being pushed out and follow U.S. international obligations, including the General Agreement on Tariffs and Trade. If the government acquires petroleum or petroleum products under this authority, the Secretary of Energy must report to Congress within 90 days on the effect on energy security and domestic supplies.

Title 15, §4053

Commerce and Trade, Source: USLM XML via OLRC

(a)Report on status of Federal barter programs

The Secretary of Agriculture and the Secretary of Energy shall, not later than 90 days after July 12, 1985, submit to the Congress a report on the status of Federal programs relating to the barter or exchange of commodities owned by the Commodity Credit Corporation for materials and products produced in foreign countries. 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.

(b)Authorities of President

The President is authorized—

(1)to barter stocks of agricultural commodities acquired by the Government for petroleum and petroleum products, and for other materials vital to the national interest, which are produced abroad, in situations in which sales would otherwise not occur; and

(2)to purchase petroleum and petroleum products, and other materials vital to the national interest, which are produced abroad and acquired by persons in the United States through barter for agricultural commodities produced in and exported from the United States through normal commercial trade channels.

(c)Other provisions of law not affected

In the case of any petroleum, petroleum products, or other materials vital to the national interest, which are acquired under subsection (b), nothing in this section shall be construed to render inapplicable the provisions of any law then in effect which apply to the storage, distribution, or use of such petroleum, petroleum products, or other materials vital to the national interest.

(d)Conventional markets not to be displaced by barters

The President shall take steps to ensure that, in making any barter described in subsection (a) or (b)(1) or any purchase authorized by subsection (b)(2), existing export markets for agricultural commodities operating on conventional business terms are safeguarded from displacement by the barter described in subsection (a), (b)(1), or (b)(2), as the case may be. In addition, the President shall ensure that any such barter is consistent with the international obligations of the United States, including the General Agreement on Tariffs and Trade.

(e)Report to Congress

The Secretary of Energy shall report to the Congress on the effect on energy security and on domestic energy supplies of any action taken under this section which results in the acquisition by the Government of petroleum or petroleum products. Such report shall be submitted to the Congress not later than 90 days after such acquisition.

Editorial Notes

Codification Section was enacted as part of the Export Administration

Amendments

Act of 1985, and not as part of Pub. L. 97–290 which enacted this chapter.

§4053 Barter Arrangements

Summary

Title 15, §4053

Notes & Related Subsidiaries

Editorial Notes

Amendments

Citations & Metadata