Market Overview

Report: White House To Ease International Firearm Trade

Report: White House To Ease International Firearm Trade

American gun manufacturers boomed Tuesday on news that the Trump Administration would ease export policies on non-military firearms.

The White House will soon submit a proposal to the budget office to shift regulation of international sales from the State Department to the Commerce Department, according to a Reuters report. The latter’s interest in promoting U.S. trade should yield favorable sales conditions relative to those fostered by the State, whose priority is to mitigate global threats.

Still, any transition will be buffered by the National Security Council, which will “ensure that U.S. industries have every advantage in the global marketplace while at the same time ensuring the responsible export of arms,” according to a Reuters source.

Congress doesn't need to approve the transition, which could take effect as soon as the first half of 2018.

American Outdoor Brands Corp (NASDAQ: AOBC) popped 11.4 percent and Sturm Ruger & Company Inc (NYSE: RGR) 13 percent in the minutes following the report.

“There will be more leeway to do arms sales,” one senior administration official told Reuters. “You could really turn the spigot on if you do it the right way.”

Posted-In: Commerce Department Gun Stocks National Security CouncilNews Politics After-Hours Center Movers General Best of Benzinga


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