PUBLIC LAWS-CH. 248-JULY 15, 1947 Policy ofthe U.S. Ante, pp. 34, 214. Time limitation. Ante, pp. 34,214. 56 Stat. 176-180, 181, 186. 50U.S.C.app. §§ 631-635 , 637, 644 - 644b. Ante,pp.25,34;post, p. 946. 54 Stat. 676. 50U.S.C.app. 1152 (a). Priorities powers. 56 Stat. 177. 50U.S.C.app. §633. Ante, pp . 25,34; post, p. 946. (b) The Congress hereby declares that it is the general policy of the United States to eliminate emergency wartime controls of materials except to the minimum extent necessary (1) to protect the domestic economy from the injury which would result from adverse distribution of materials which continue in short world supply; (2) to promote production in the United States by assisting in the expansion and maintenance of production in foreign countries of materials critically needed in the United States; (3) to make avail- able to countries in need, consistent with the foreign policy of the United States, those commodities whose unrestricted export to all destinations would not be appropriate; and (4) to aid in carrying out the foreign policy of the United States. TEMPORARY RETENTION OF CERTAIN EMERGENCY POWERS SEC. 3 . To effectuate the policies set forth in section 2 hereof, title XV, section 1501, of the Second War Powers Act, 1942, approved March 27, 1942, as amended, is amended to read as follows: "SEC. 1501. (a) Except as otherwise provided by statute enacted during the Eightieth Congress (including the First Decontrol Act of 1947 and Public Law Numbered 145, approved June 30, 1947) and except as otherwise provided by subsection (b) of this section, titles I, II, III, IV, V, VII, and XIV of this Act and the amendments to existing law made by such titles shall remain in force only until March 31, 1947. After the amendments made by any such title cease to be in force, any provisions of law amended thereby (except subsection (a) of section 2 of the Act entitled 'An Act to expedite national defense, and for other purposes', approved June 28, 1940, as amended) shall be in full force and effect as though this Act had not been enacted. "(b) Title III of this Act and the amendments to existing law made by such title shall remain in force until February 29, 1948 for the exercise of the powers, authority, and discretion thereby conferred on the President, but limited to- "(1) the materials (and facilities suitable for the manufacture of such materials), as follows: "(A) Tin and tin products, except for the purpose of exer- cising import control of tin ores and tin concentrates; "(B) Antimony; (C) Cinchona bark, quinine, and quinidine, when held by any Government agency or after acquisition (whether prior to, on, or after July 16, 1947) from any Government agency, either directly or through intermediate distributors, processors, or other channels of distribution, or when made from any of such materials so acquired; "(D) Materials for export required to expand or maintain the production in foreign countries of materials critically needed in the United States, for the purpose of establishing priority in production and delivery for export, and materials necessary for manufacture and delivery of the materials required for such export; "(E) Fats and oils (including oil-bearing materials, fatty acids, butter, soap, and soap powder, but excluding petroleum and petroleum products) and rice and rice products, for the purpose of exercising import control only; and nitrogenous fertilizer materials for the purposes of exercising import con- trol and of establishing priority in production and delivery for export; 322 [61 STAT.