At the present time paragraph (2) of section 2(b) of the ExportImport Bank Act of 1945 prohibits the Bank from making any guarantee. insurance. or extension of credit to Communist countries in connection with the purchase or lease of any product by them. By the terms of the act. however. this prohibition is not applicable In the case of any transaction which the President determines would be in the national interest. My amendment would provide that no such determination shall be made by the President with respect to any Communist country which: First. denies to its citizens the right or opportunity freely to emigrate. second. engages in or promotes a pattern or practice of invidious discrimination against any class of its citizens by reason of race. color. or religion. or denies to its citizens the rights of freedom of thought. conscience. and religion as asserted in the Universal Declaration of Human Rights. or third. delays or obstructs the effective implementation of negotiated International agreements with the United States or its treaty organizations for the limitation of armaments and forces. The amendment would also prohibit the granting of loans or credits in connection with any transaction that would make a significant contribution to the military potential of such country. or that would substantially and adversely affect the competitive position of U.S. industry in foreign markets. or the employment of labor within the United States. In addition to these guidelines. any proposal for such loan or transaction must be submitted to both the Senate and House of Representatives. and such transactions may be consummated only if neither House disapproves the proposed transaction within 60 days after the President reports his determination to grant such loan.
Keywords matched
emigrate