What US Agricultural Trade Act of 1978 (7 USC ch 87): Export Credit Guarantees and Market Development Programs requires
The Agricultural Trade Act of 1978 (7 U.S.C. ch. 87, sections 5601 onward) is the principal United States statute for promoting commercial agricultural exports, administered by the Foreign Agricultural Service of the Department of Agriculture using the financing capacity of the Commodity Credit Corporation. Section 5602 defines key terms, including agricultural commodity and unfair trade practice. Section 5622 establishes the export credit guarantee program, under which the Commodity Credit Corporation may guarantee the repayment of credit made available to finance commercial export sales of agricultural commodities, and section 5641 governs the funding of the credit programs, providing that the Commodity Credit Corporation shall make available for each fiscal year 5,500,000,000 dollars of credit guarantees under section 5622(a). Section 5623 establishes the agricultural trade promotion and facilitation programs, including the Market Access Program, the Foreign Market Development Cooperator Program, and the E (Kika) de la Garza Emerging Markets Program, with annual funding provided under section 5623(f) of 255,000,000 dollars allocated as not less than 200,000,000 dollars for the Market Access Program, not less than 34,500,000 dollars for the Foreign Market Development Cooperator Program, and not more than 8,000,000 dollars for the Emerging Markets Program. The Act is the legal foundation of United States agricultural export credit and market development policy.
Pillar: Agriculture & Agritech · Authority: US Congress / Department of Agriculture (Foreign Agricultural Service; Commodity Credit Corporation) · Version: 1.0.0 · Last updated:
Primary source: https://www.govinfo.gov/content/pkg/USCODE-2022-title7/html/USCODE-2022-title7-chap87.htm
SHA-256 integrity: d47a21c5bed999798b54b5ffb431164d16d11563b986784682fc87e5bee545f8
Primary Citations — 8 traced to source
- Agricultural Trade Act of 1978, 7 U.S.C. 5602 - definitions, including agricultural commodity and unfair trade practice.
- Agricultural Trade Act of 1978, 7 U.S.C. 5622 - export credit guarantee program; Commodity Credit Corporation may guarantee credit financing commercial export sales.
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