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The Export Control Act of 1940 was one in a series of legislative efforts by the US government and initially the administration of President Franklin D. Roosevelt to accomplish two tasks: to avoid scarcity of critical commodities in a likely prewar environment [1] and to limit the exportation of materiel to Imperial Japan.
The United States has had export controls since the American Revolution, although the modern export control regimes can be traced back to the Trading with the Enemy Act of 1917. A significant piece of legislation was the Export Control Act of 1940 which inter alia aimed to restrict shipments of material to pre-war Japan.
In the United States, CoCom compliance was implemented by various statutes authorizing the President to regulate exports, including the Export Control Act of 1949, the Export Administration Act of 1969, the Export Administration Act of 1979, the Arms Export Control Act (AECA), the Trading with the Enemy Act, and the International Emergency Economic Powers Act, among others.
With strong export growth, however, this was reversed to a surplus of US$2.4 billion in 1976. The surplus reached a record US$18.2 billion in 1978, promoting considerable tension between the United States and Japan. In 1979 petroleum prices jumped again, and Japan's trade balance again turned to deficit, reaching US$10.7 billion in 1980.
The Ministry's predecessor, the Ministry of International Trade and Industry, was in operation from 25 May 1949 to 5 January 2001.However, due to the reorganisation of central government ministries and agencies on 6 January 2001, the Ministry of Economy, Trade and Industry was established by reorganising and renaming the Ministry of International Trade and Industry.
Japan's membership in the OECD has constrained its foreign economic policy to some extent. When Japan joined the OECD in 1966, it was obliged to agree to OECD principles on capital liberalization, an obligation that led Japan to begin the process of liberalizing its many tight controls on investment flows into and out of Japan. Japan is also a ...
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The Commerce Control List (CCL) identifies specific items and technologies subject to export licensing requirements. [7] Each item listed on the CCL is assigned an alphanumeric Export Control Classification Number (ECCN), such as 3A001, that describes it and indicates its licensing requirements. The CCL is divided into ten categories, each ...