WEBB¨CPOMERENE ACT
Webb¨CPomerene Act. A federal law, originally enacted in 1918, that provides a qualified exemption for an export business against the prohibitions of the antitrust laws.15 USCA ¡ì¡ì 61 et seq.¡°The Webb¨CPomerene Act was passed to aid and encourage our manufacturers and producers to extend our foreign trade. Congress believed that American firms needed the power to form joint export associations in order to compete with foreign cartels, but while Congress was willing to create an exemption from the antitrust laws to serve this narrow purpose, the exemption created by the Webb¨CPomerene Act was carefully hedged in to avoid substantial injury to domestic interests. Organization under the Webb¨CPomerene Act does not give an export association the right to agree with foreign competitors to fix prices … or establish exclusive markets ….¡± 54 Am. Jur. 2d Monopolies and Restraints of Trade ¡ì 262, at 298 (1996).
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