What is the basic function of the Export Trading Company Act?

Question

Quizplus · Accepted Answer

The basic function of the Export Trading Company Act is to allow producers of similar products to form export trading companies, which can then combine their resources and expertise to more effectively compete in foreign markets. This Act was passed in 1982 in order to address concerns about the ability of small and medium-sized U.S. companies to compete against larger foreign competitors. It allows for the creation of Export Trading Companies (ETCs), which are groups of small- and medium-sized companies that come together to increase their exports.

What Is the Basic Function of the Export Trading Company