Introduction
The Commerce Control List of the U.S. Bureau of Industry and Security has set a limit to the number of items the number of items that can be exported. The limit on exports aims at limiting the entire exportation of certain product or limiting the exportation of some products to certain regions so as to protect the US interests.
Analysis
Among the most popular restrictions is the complete ban of exportation of all products to countries like Iran and North Korea so as to discourage the production of nuclear weapons. In other area such as the war-torn Syria, the Commerce Control List of the U.S. Bureau of Industry and Security prohibits the exportation of any products other than medicine and food ( Bordoff & Houser, 2015) . The limitation of export of products is also exercised by the United States in pursuant of the arms embargo of the UN security council. In this regard, there is a restriction of arms exportation to countries such as the Democratic Republic of Congo, Iraq, Libya and Lebanon ( Waltz, & Arbor, 2016). Apart from total ban of the exportation of some products, the United States has adopted regulations that require licensing of some products before export. Such products include telecommunication and defense technology. The main objective of this limitation is to ensure that private companies do not compromise the national interests of the United States.
Delegate your assignment to our experts and they will do the rest.
Conclusion
Historically, export restriction has played an important role in securing economic objectives by increasing aggregate demand and economic growth, to decrease unemployment. However, in the modern economy it is beset by severe limitations, and has become far less effective. The Federal Budget is one of the main instruments of the Government’s protective policies and provides a path along which these limitations can be exercised.
References
Bordoff, J., & Houser, T. (2015). Navigating the US oil export debate . Center on Global Energy Policy, Columbia University.
Waltz, S., & Arbor, A. (2016). US Policy on Small Arms Transfers: A Human Rights Perspective. Ann Arbor , 1001 , 48109.
