Webb-Pomerene Act
Encyclopedia
The Webb-Pomerence Act was a law passed in 1918 that exempted certain exporters' associations from certain antitrust regulations.
Sponsored by Rep. Edwin Y. Webb (D) of North Carolina and Sen. Atlee Pomerene
(D) of Ohio, the act granted immunity from antitrust
regulation to companies that combined to operate the export trade that was essential to the war effort. The act was important because it granted exemptions from the Clayton Anti-Trust Act of 1914. Many large conglomerates that had previously been subject to Federal anti-trust investigations were now free to continue "business as usual" because they "aided" the war effort. Webb-Pomerene exemptions lasted well into the 1920s as the Federal Trade Commission granted stays of investigation for those companies that initially qualified for exemption under the 1918 act.
Sponsored by Rep. Edwin Y. Webb (D) of North Carolina and Sen. Atlee Pomerene
Atlee Pomerene
Atlee Pomerene was a Democratic Party politician from Ohio. He represented Ohio in the United States Senate from 1911 until 1923.-Early life and career:...
(D) of Ohio, the act granted immunity from antitrust
Antitrust
The United States antitrust law is a body of laws that prohibits anti-competitive behavior and unfair business practices. Antitrust laws are intended to encourage competition in the marketplace. These competition laws make illegal certain practices deemed to hurt businesses or consumers or both,...
regulation to companies that combined to operate the export trade that was essential to the war effort. The act was important because it granted exemptions from the Clayton Anti-Trust Act of 1914. Many large conglomerates that had previously been subject to Federal anti-trust investigations were now free to continue "business as usual" because they "aided" the war effort. Webb-Pomerene exemptions lasted well into the 1920s as the Federal Trade Commission granted stays of investigation for those companies that initially qualified for exemption under the 1918 act.