§ 4053. — Barter arrangements.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 15USC4053]
TITLE 15--COMMERCE AND TRADE
CHAPTER 66--PROMOTION OF EXPORT TRADE
SUBCHAPTER III--EXPORT PROMOTION PROGRAMS
Sec. 4053. Barter arrangements
(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)
of this section, 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) of this section or any purchase
authorized by subsection (b)(2) of this section, 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) of this section, 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.
(Pub. L. 99-64, title II, Sec. 203, July 12, 1985, 99 Stat. 158.)
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.
