On Friday, the U.S. Commerce Department announced a temporary halt to the issuance of export licenses for most civilian firearms and ammunition for 90 days, citing vague “national security and foreign policy interests” as the rationale behind the decision, Reuters reported.
“The review will be conducted with urgency and will enable the Department to more effectively assess and mitigate risk of firearms being diverted to entities or activities that promote regional instability, violate human rights, or fuel criminal activities,” the agency said.
The Gateway Pundit reports that the ban includes a sweeping range of semiautomatic and non-automatic firearms like shotguns and optical sights.
This export halt will have a direct economic impact on leading U.S. firearms manufacturers such as Sturm Ruger & Co., Smith & Wesson Brands, and Vista Outdoor. It does affect some of the largest markets for American gun manufacturers, including Brazil, Thailand, and Guatemala, according to Bloomberg.
The temporary suspension of export licenses does not apply to Israel, Ukraine, and about 40 other countries that participate with the U.S. in a multilateral export-control agreement.
