Export Administration Act of 2001

H.R. 2557, the Export Administration Act of 2001, would establish a formal legal framework for the U.S. government to regulate the export of commercial goods and technologies that have potential military applications. The bill authorizes the Department of Commerce to maintain a "Control List" of items requiring special licenses for export, specifically targeting technologies that could contribute to the proliferation of weapons of mass destruction or enhance the military capabilities of terrorist-supporting nations.

For everyday citizens and business owners, this legislation would clarify the rules for selling high-tech products abroad, ensuring that American innovations do not inadvertently compromise national security. While it streamlines the licensing process for many exporters, it also establishes strict civil and criminal penalties for individuals or companies that bypass these regulations or participate in foreign boycotts against U.S. allies. Ultimately, the bill seeks to balance the economic interests of American exporters with the need to prevent sensitive technology from reaching hostile actors.