Yount, Inc is interested in expanding its business to include exporting its products to several other countries. Discuss two federal statutes that should be considered before making the decision to export
All nations limit what may be exported. In the United States, the Export Administration Act of 1985 attempts to balance the need for free trade with requirements of national security. This statute permits the federal government to restrict exports if they endanger national security, harm foreign policy goals, or drain scarce resources. The Secretary of Commerce makes a Controlled Commodities List, and no one may export a commodity on the list without a license. A second statute that limits exports is the Arms Export Control Act. This statute permits the president to create a second list of controlled goods, all related to military weaponry. Again, no one may export any listed item without a license.
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Fill in the blank(s) with correct word