Diaz Trade Law is enthusiastic to announce Bloomberg Law published another one of our articles, "Introduction to US Export Controls Part 2"! Below is the article reproduced with permission for your reading pleasure. You can read the article here (where you'll have the ability to access all of the great hyperlinks).
Opportunities & Responsibilities of U.S. Exporters
In the last 25 years, U.S. exports have continued to increase as more U.S. companies seek out customers abroad. Exports present boundless opportunities for growth, given that 95% of the world's population resides outside of the U.S.
Value of U.S. Goods & Services Exports 1960-2020
Source: Bureau of Economic Analysis
Although exporting can be fruitful for a business, exporters have a significant responsibility to practice due diligence in their activities. They must adhere to U.S. export control and sanctions laws to safeguard U.S. national security and foreign policy interests, avoid costly penalties, and lower or eliminate their criminal liability. This article presents the primary categories of export compliance and consequences of noncompliance.
Practice Tip: The U.S. Census Bureau maintains a publicly accessible database for trade data. This database can provide useful insights into the export trends for your particular products year-over-year for every country in the world.
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Originally published in Bloomberg Law
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.