Entry Summary Selectivity System

The Entry Summary Selectivity System, a part of Customs’ Automated Commercial System, provides an automated review of entry data to determine whether team or routine review is required. Selectivity criteria include an assessment of risk by importer, tariff number, country of origin, manufacturer, and value. Summaries with Census warnings, as well as quota, antidumping and countervailing duty entry summaries are selected for team review. A random sample of routine review summaries is also automatically selected for team review.

Escape Clause

The escape clause, which can be invoked under GATT Article XIX, allows countries to temporarily violate their GATT obligations to the degree and time necessary to protect a domestic industry from serious injury. Countries taking such actions, however, must consult with affected contracting parties to determine appropriate compensation for the violation of GATT rights, or be subject to retaliatory trade actions. Section 201 of the Trade Act of 1974 requires the U.S. International Trade Commission to investigate complaints filed by domestic industries or workers claiming that they are injured by rapidly rising imports. Section 203 of the Act provides that if the ensuing investigation establishes that the complaint is valid, relief may be granted in the form of adjustment assistance, which may be training, technical, and financial assistance, or temporary import restrictions in the form of tariffs, quotas, and/or marketing agreements. Import restrictions imposed under the escape clause authority are limited in duration. They may last no longer than five years but can be extended by the President for a three-year period.

Eurodollars

U.S. dollars placed on deposit in banks outside the United States (primarily in Europe).

European Bank for Reconstruction and Development

The EBRD provides assistance through direct loans. The loans are designed to facilitate the development of market-oriented economies to promote private and entrepreneurial initiatives. The EBRD began financing operations in June 1991. EBRD headquarters are in London.

European Commission

One of the five major institutions of the European Community, the Commission is responsible for ensuring the implementation of the Treaty of Rome and Community rules and obligations; submission of proposals to the Council of Ministers; execution of the Council’s decisions, reconciliation of disagreements among Council members; administration of EC policies, such as the Common Agricultural Policy and coal and steel policies; taking necessary legal action against firms or member governments; and representing the Community in trade negotiations with non- member countries.

European Community

A regional organization created in 1958 providing for gradual elimination of intraregional customs duties and other trade barriers, applying a common external tariff against other countries, and providing for gradual adoption of other integrating measures, including a Common Agricultural Policy and guarantees of free movement of labor and capital. The original 6 members were Belgium, France, West Germany, Italy, Luxembourg, and the Netherlands. Denmark, Ireland, and the United Kingdom became members in 1973, Greece acceded in 1981, and Spain and Portugal in 1986.

European Free Trade Association

A regional organization established in December 1959 by the Stockholm Convention as an alternative to the Common Market, EFTA was designed to provide a free trade area for industrial products among member countries. Unlike the EC, however, EFTA members did not set up a common external tariff and did not include agricultural trade. The original members were the United Kingdom, Austria, Denmark, Norway, Portugal, Sweden, and Switzerland. The United Kingdom, Denmark, and Portugal left EFTA when theyjoined the EC. EFTA currently has seven members: Austria, Finland, Iceland, Liechtenstein, Norway, Sweden and Switzerland-Austria and Sweden have applied for BC membership.

Ex – “From.”

When used in pricing terms such as “Ex Factory” or “Ex Dock,” it signifies that the price quoted applies only at the point of origin (in the two examples, at the seller’s factory or a dock at the import point). In practice, this kind of quotation indicates that the seller agrees to place the goods at the disposal of the buyer at the specified place within a fixed period of time.

Exchange Rate

The price of one currency expressed in terms of another, i.e., the number of units of one currency that may be exchanged for one unit of another currency. Influences on exchange rates include differences between interest rates and other asset yields between countries; investor expectations about future changes in a currency’s value; investors’ views on the on the overall quantity of dollar-denominated assets in circulation; arbitrage; and central bank exchange rate support.

Export

To send or transport goods out of a country for sale in another country. In international sales, the exporter is usually the seller or the seller’s agent. Compare: Import.

Export Administration Act

The BAA of 1979, as amended, authorizes the President to control exports of U.S. goods and technology to all foreign destinations, as necessary for the purpose of national security, foreign policy, and short supply. As the basic export administration statute, the EAA is the first big revision of export control law since enactment of the Export Control Act of 1949. The EAA is not a permanent legislation; it must be reauthorized-usually every three years. There have been reauthorizations of the BAA in 1982, 1985 (the Export Administration Amendments Act), and 1988 (Omnibus Amendments of 1988) which have changed provisions of the basic Act. The Export Administration Act of 1990 was pocket vetoed by the President, charging that provisions involved micro management.

Export Administration Amendments Act. See: Export Administration Act

Export Administration Regulations

The Export Administration Regulations provide specific instructions on the use and types of licenses required and the types of commodities and technical data under control.

Export Administration Review Board

The BARB is a cabinet-level export licensing dispute resolution group. The BARB was originally established in June 1970 under Executive Order 11533. Under Executive Order 12755 of March 1991, BARB membership includes Commerce (as chair), State, Defense, and Energy, and Arms Control and Disarmament Agency and, as non-voting members, the Joint Chiefs of Staff and the Central Intelligence agency. The BARB is final review body to resolve differences among agency views on the granting of an export license. [Preceding the BARB review are: (a) Operating Committees and (b) the Advisory Committee on Export Policy.] National Security Directive 53 requires escalation of disputes regarding an export license to the Advisory Committee on Bxport Policy (ACBP) not later than 100 days from the filing date of the applicant’s application. Any cases not resolved at the ACBP level must be escalated to the EARB within 35 days of the date of the ACEP meeting. Cases not resolved by the BARB must be escalated to the President for resolution.

Export Assistance Center

An Export Assistance Center (BAC) system was established by the state of Texas to link agencies, associations, and local governments in efforts to increase exports by assisting current and prospective exporters. The US&FCS has been considering using the Texas model to develop similar export assistance networks.

Export Broker

An individual or firm that brings together buyers and sellers for a fee, but does not take part in actual sales transactions.

Export Commodity Classification Number. See: Export Control Classification Number

Export Contact List Service

The ECLS is an ITA service that provides mailing lists of prospective overseas customers from ITA’s file of foreign firms (the Foreign Trader’s Index). The BCLS identifies manufacturers, distributors, retailers, service firms, and government agencies. A summary of the information on the company includes contact information, product and service interests, and other data.

Export Control Automated Support System

ECASS was implemented by the Commerce Department in 1985 to automate a paper-based system. The system currently provides: