Until 1973, export restrictions did not pose a serious problem for international trade policy, which in the immediate post-World War II period was aimed almost exclusively at achieving free access to markets for the sale of finished goods. Then in 1973 several events occurred to change this situation. On 27 June 1973, the United States Administration decreed an export ban of limited duration on soybeans; and on 17 October of the same year several Arab States imposed an oil embargo on the United States. Following on from these two events, several other countries for diverse reasons — imposed restrictions on the export of various raw materials and semi-manufactured goods (1), with the overall result that international trade policy became increasingly concerned with ensuring assured access to raw-material markets (2).
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- Export Restrictions as a Means of Avoiding ‘Critical Shortages’
- Palgrave Macmillan UK
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