Trading with the Enemy Act

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The Trading with the Enemy Act, sometimes abbreviated as TWEA, is a United States federal law, 12 U.S.C. § 95a, 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. In 1933 President Franklin D. Roosevelt passed an amendment that extended the scope to hoarding of gold, and then outlawed gold ownership with Executive Order 6102. These restrictions continued until the 1970s.

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

• International Emergency Economic Powers Act
• War Powers Act

[edit] External links

• Text of the law from Cornell Law School
• U.S. Treasury