§4712 Barter and Countertrade

Summary

The President must create a team of federal agencies to study countertrade and offsets. The Secretary of Commerce will lead that team. The team must review U.S. policy on countertrade, look at how countertrade is used in exports and U.S. economic aid, consider whether the United States should try to reach agreements with the Organization for Economic Cooperation and Development and other international groups about countertrade, and then make recommendations to the President and Congress. Other federal agencies must give information to the team when asked, and the same rules that protect confidential agency information apply to team members and anyone helping the team. The law also creates an Office of Barter inside the Commerce Department’s International Trade Administration. The Secretary of Commerce appoints a Director and assigns staff as needed. The office must watch trends in international barter, collect and share useful information for businesses and governments (including lists of barter opportunities), alert federal agencies abroad when bartering surplus U.S. goods might help, and help U.S. companies find barter and countertrade deals.