Export restrictions could be aimed at achieving diverse policy objectives such as environmental protection, economic welfare, social wellbeing, conversion of natural resources, and controlling inflationary pressures.
However, in the long run, welfare losses will decrease because supply and demand curves will eventually adjust.
[7] The food crises of 2008 affected the export restriction measures on both agricultural and non-agricultural commodities worldwide.
These restrictions are changing terms of trade and causing welfare losses on both national and global levels.
The Department of State has the responsibility of overseeing export of defense and military-related articles as per the International Traffic in Arms Regulations or ITAR.