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Trade offsets in foreign military sales : report to the chairman, Subcommittee on Economic Stabilization, Committee on Banking, Finance and Urban Affairs, House of Representatives

Author: United States. General Accounting Office.
Publisher: Washington, D.C. : U.S. General Accounting Office, 1984.
Edition/Format:   Print book : National government publication : EnglishView all editions and formats
Summary:
In response to a congressional request, GAO reviewed arrangements wherein U.S. industry shares production of foreign military sales (FMS) items with sources within a foreign country to offset an established percentage of the cost of the procurement. Specifically, GAO was asked to determine: (1) what the national policy was on these offsets; (2) which federal agency has responsibility for monitoring offset
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Additional Physical Format: Online version:
United States. General Accounting Office.
Trade offsets in foreign military sales.
Washington, D.C. : U.S. General Accounting Office, 1984
(OCoLC)654482217
Material Type: Government publication, National government publication
Document Type: Book
All Authors / Contributors: United States. General Accounting Office.
OCLC Number: 10981097
Notes: Cover title.
"April 13, 1984."
Distributed to depository libraries in microfiche.
"GAO/NSIAD-84-102."
"B-214935"--Page [1] (1st group).
Description: 4 pages, [1] leaf, 19, [1] pages ; 28 cm
Responsibility: by the Comptroller General of the United States.

Abstract:

In response to a congressional request, GAO reviewed arrangements wherein U.S. industry shares production of foreign military sales (FMS) items with sources within a foreign country to offset an established percentage of the cost of the procurement. Specifically, GAO was asked to determine: (1) what the national policy was on these offsets; (2) which federal agency has responsibility for monitoring offset activities; (3) how agencies coordinate the administration of offsets; (4) to what extent offsets are used in FMS and commercial transactions; and (5) what type of database exists to track offset activities in order to determine their effect.

GAO found that no comprehensive national policy exists to guide federal officials or industry representatives in offset transactions. The Department of Defense has instituted its own policy to rely on industry market forces to regulate offsets except when industry is unable to satisfy any particular government's demands. There is little coordination among the agencies studying offsets, and no single federal agency has taken the lead to ensure that the various U.S. interests are served when a U.S. firm makes an offset commitment with a foreign government. No central database exists on offset commitments, and complete and accurate data on offsets are not otherwise readily available. Some of the countries now requesting offsets are also receiving FMS credit or grant assistance. This offset commitment could be used by the recipient country to expand its own industrial base at the expense of the U.S. industrial base and U.S. jobs. GAO believes that, if this practice becomes widespread, it could run counter to U.S. interests, especially when a country's FMS credits have been a significant grant element, are forgiven, or might not be repaid. The House Committee on Banking, Finance and Urban Affairs, Economic Stabilization Subcommittee, may wish to consider the need for Congress to direct that the administration institute a policy to resist offset demands by foreign governments when FMS credits or grants are involved in the sale.

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