Export Act Allows Better Enforcement
President Reagan signed into law Friday a bill that amends and reauthorizes the Export Administration Act.
The new law, Reagan said, “strikes an acceptable balance between enhancing our commercial interests and protecting our national security interests.”
In a statement, the President said:
--The new law will expand enforcement authority to control certain high-tech exports by establishing new statutory crimes for illegal exports and provides enforcement officials with an effective tool to reduce illegal diversions.
--To make U.S. exporters more competitive, the law decontrols the exports of “low-tech” items, liberalizes licensing where comparable goods are widely available on the international marketplace.
Reagan recalled that during the congressional debate he said, “There must be adequate discretionary authority to allow the president to manage the export control program.”