Trading with the Enemy Act
From Wikipedia, the free encyclopedia
The Trading with the Enemy Act is a United States federal law, , was enacted in 1917 to restrict trade with countries hostile to the United States. The law gives the President the power to oversee or restrict any and all trade between the U.S. and her enemies in times of war. The law also gave the President the power to prohibit the "hoarding" of gold by U.S. citizens. This power was subsequently exercised by Franklin D. Roosevelt in his 1933 Executive Order 6102.
The Trading with the Enemy Act is often confused with the International Emergency Economic Powers Act, which grants somewhat broader powers to the President and is invoked during states of emergency when not at war.
Currently, the only nations with which trade is effectively closed by the act are North Korea and Cuba.
[edit] See also
Trading with the Enemy Act of 1917 & 1933 (People Declared the Enemy)
Oct. 6, 1917, under the Trading with the Enemy Act, Section 2, subdivision (c), Chapter 106 - Enemy defined "other than citizens of the United States..."
March 9, 1933, Chapter 106, Section 5, subdivision (b) of the Trading with the Enemy Act of Oct.6 1917 (40 Stat. L. 411) amended as follows: "...any person within the United States.."
[edit] External links
- Text of the law from Cornell Law School
- U.S. Treasury
