User:Redbird1453/sandbox

Post WW2 Japanese Trade Policy
The Potsdam Declaration of 1945, declared that Japan would surrender all of its armed forces, and the Japanese military would be under the control of the Supreme Commander for the Allied Powers(SCAP). In theory, the economy would be left to the management of the Japanese government. In practice however, the economy was largely influenced by the Occupation policies of the Allied Powers. Initially, the United States' main goal for post-war Japan was to demilitarize the Japanese economy. During the early phase of post-war Japan, private foreign trade had been prohibited by SCAP, and all trade was state conducted. There were restrictions to heavy industry outputs such as steel, aluminium, copper; which limited the shipbuilding, machinery, and chemical industries. Imports were only allowed when they were judged to be indispensable to the sustenance of the Japanese economy. However, the SCAP policies to Japanese industry would be quickly reversed due to Cold War politics. On August 15, 1957, the United States' government announced a policy that relaxed trade restrictions to Japan; reopening private exports. Trade was still heavily regulated; as a foreign buyer would need to submit a purchase and sale agreement, and the Japanese export also needed to file an application to the Board of Trade, which would then be forwarded to SCAP for final approval.