Memorandum From the President on Embargo Regulations Under the Trading With the Enemy Act

Memorandum for the Secretary of State, the Secretary of Treasury
Subject: Determination Extending the Exercise of Certain Authorities Under the Trading With the Enemy Act

Under Section 101 (b) of Public Law 95-223 (91 Stat. 1625; 50 U.S.C. App. 5 note), and a previous Determination made by me on September 8, 1978 (43 Fed. Reg. 40449 (1978)), the exercise of certain authorities under the Trading' With the Enemy Act is scheduled to terminate on September 14, 1979.

I hereby determine that the extension for one year of the exercise of those authorities with respect to the applicable countries is in the national interest of the United States.

Therefore, pursuant to the authority vested in me by Section 101 (b) of Public Law 95-223, I extend for one year, until September 14, 1980, the exercise of those authorities with respect to those countries presently affected by: (1) the Foreign Assets Control Regulations, 31 CFR Part 500, (2) the Transaction Control Regulations, 31 CFR Part 505, (3) the Cuban Assets Control Regulations, 31 CFR Part 515, and (4) the Foreign Funds Control Regulations, 31 CFR Part 520.

The extension of the authorities with respect to the People's Republic of China is in connection with implementation of the Agreement Concerning the Settlement of Claims entered into between the Government of the United States and the Government of the People's Republic of China on May 11, 1979.
This Determination shall be published in the FEDERAL REGISTER.

JIMMY CARTER

[Filed with the Office of the Federal Register, 12:16 p.m., September 12, 1979]