If Congress does not pass the Export Administration Act of 2001, American national security, in addition to the U.S.’s power in global commerce, could be compromised, said James Jochum, assistant secretary of Commerce for Export Administration, speaking at the Joint Industry Group meeting Tuesday.
Jochum said the act, which goes into committee review by the House Armed Services Committee today, goes before the House vote next week.
The bill overwhelmingly passed the U.S. Senate.
The act would offer more severe punishment, he said. Violation could be punished to up to $1 million for individuals and up to $5 million for corporations. “It gives us a deterrent effect,” he said of the Act.
Jochum said that, to maintain a system of export controls after Sept. 11, President Bush was forced to declare a national emergency under the International Emergency Economic Powers Act (IEEPA), passed in 1979.
Operating under this rule does not ensure national security nor safeguard export controls, Jochum said, as terrorists can buy whatever they want and distribute throughout their networks.
“The 1979 Act has expired six times since,” he said, referring to the legislation’s antiquity.
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The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now