Trump intends to loosen control over firearms exports.
Howard Lutnik, a candidate for the position of Secretary of Commerce under President Donald Trump, announced a change in restrictions regarding firearms exports that were implemented by the Biden administration.
According to Reuters, in April 2024, the Biden administration imposed restrictions on arms sales to private buyers in 36 countries where there is a high risk of improper use. Earlier, in 2023, exports were temporarily banned, reports Economic Truth.
At that Time, the Department of Commerce projected a 7% reduction in annual U.S. firearms exports, or $40 million.
However, Senator Eric Schmidt stated that these restrictions resulted in losses of hundreds of millions of dollars annually for American manufacturers. According to industry associations, losses from arms sales in 2023 amounted to $238 million.
Read also
- Poland asks for a nuclear shield from the USA in response to the threat from Russia
- Preparation for the Ukraine Recovery Conference 2025: Ministry of Economy is gathering investment projects
- Taiwan accused China of deepening influence and infiltration
- Zelensky: We now have a great opportunity to end this war
- Zelensky discussed steps towards peace and the release of prisoners with the Secretary of State of the Vatican
- Ukrainian units surrounded in Kursk? Statement from the General Staff
