Agricultural Trade Act of 1978

Summary

Agricultural Export Trade Expansion Act - Title I: Intermediate Credit - Amends the Food for Peace Act of 1966 to authorize the Commodity Credit Corporation to finance export sales of agricultural commodities on credit terms in excess of three years, but not more than ten years. Restricts such financing to export sales that will: (1) develop or maintain the importing nation as a foreign market for the commercial sale and export of United States agricultural commodities without displacing normal commercial sales; or (2) otherwise improve the capability of the importing nation to purchase and use, on a long-term basis, such commodities. Requires the Secretary of Agriculture to obtain commitments from purchasers to prevent resale or transshipment to other nations of commodities, the domestic sale or distribution of reserve stocks, so financed. Establishes a penalty for noncompliance with such commitments. Exempts export sales financed under this title from the cargo preference laws. Title II: Commodity Credit Corporation Financing of Deferred Payment Sales; Credit Sales to the People's Republic of China - Directs the Secretary to provide Commodity Credit Corporation financing to exporters of agricultural products who wish to extend deferred payment terms of not to exceed three years to buyers in other nations in order to meet sales competition from other nations or to make additional export sales. Limits such financing of sales to nations eligible for financing under the Corporation's short-term export credit sales program. Authorizes the Corporation to provide short-term export credit and deferred payment financing for commercial sales of agricultural commodities out of private stocks on terms of not to exceed three years to the People's Republic of China. Title III: Agricultural Counselors - Amends the Agricultural Act of 1954 to designate as Agricultural Counselors or Agricultural Attaches certain Department of Agriculture officers or employees assigned to posts abroad. Requires each Counselor or Attache to submit to the Secretary an annual report detailing the social, political, and economic factors affecting agriculture and agricultural trade in the nation or area to which such Counselor or Attache is assigned. Title IV: Establishment of United States Agricultural Trade Offices - Amends the Agricultural Act of 1954 to direct the Secretary, in consultation with the Secretary of State, to establish abroad not less than six nor more than 25 United States Agricultural Trade Offices, for the purpose of developing, maintaining, and expanding international markets for United States agricultural commodities.

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Documents

3 official files

• Public Law (PDF)

  Public Law · EN · 22 October 1978

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• Conference report filed in House

  summary · EN · 11 October 1978

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• Introduced in Senate

  summary · EN · 23 August 1978

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