International Traffic in Arms (ITAR)
ITAR allows the President to control the import and export of defense articles and defense services. The President is generally authorized to determine what is included as a defense article or service and those items shall constitute the United States Munitions List. ITAR 2778(a)(1). The President must review from time to time. (f)(1).
Export licenses must be issued and the determination of the licensing for exportation is based upon if the exporting of the item could contribute to an arms race, aid the development of WMDs, support international terrorism, increase the possibility of conflict, or prejudice arms control. Id. (a)(2). President has the authority to require selling. Treaty exempts certain things from being traded (complete rocket systems). Can’t give foreign persons license but can give to foreign governments. Foreign governments must have a bilateral agreement where the exporting country that is comparable to the United States.
Export Administration Act
The Export Administration Act allows the President to control U.S. exports for reasons of national security, foreign policy, and/or lack of supply. The EAA expired in 1994 but was continued by executive order. The public must be notified of the items that are on the list that can’t be exported to specific countries.
Trading with the Enemy Act
Trading with the Enemy Act allows the President to restrict any or all trade with countries that are hostile to the United States. Additionally, the act allows for the President to stop the trading of currency to both enemies and during anytime of emergency. An exception is made to trading with US Citizens. Currently, Cuba is the only country with restrictions under this act.
Foreign Corrupt Practices Act
The FCPA applies to any US or foreign corporation that has field under the Securities and Exchange Act of 1934 and any person who is a citizen of the United States. The Act stops the bribing of foreign officials for the purpose of obtaining or retaining business. Foreign official is broadly defined and includes almost all people working for the government.
In addition, the FCPA requires that corporations accurately maintain accounting records to allow for auditing of the anti-bribery provisions. The anti-bribery provision does allow for so called ‘grease’ payments or payments that expedite the duties an official is already required to perform. These payments can be against local laws.