12 2 STA T .53 25 PROCL A M AT I O N8 2 7 1 —JU N E 2 6, 2 0 08 Proclam a ti o n8271 o fJu n e 2 6, 2 0 08 Terminat i o no f t h e Ex er c i s eof Au thorities U n d er the Tradin gW ith the Enem y Act With R es p ect to N orth K orea BythePr e sid e n t of the U nited S t a tes of Am eri c a A Proc l amation I,GEOR GE W.BUSH , Presid e ntof t h e United St a tes of Am eri c a, by the a u thority v ested in me by the C onstitution and the l a w s of the United States, includin g section 10 1 ( b ) of Public L aw 95–2 2 3 (91 Stat. 1 6 25
50 U.S.C. A p p. 5(b) note), hereby find that the continuation of the e x er - cise of authorities under the T rading With the Enemy Act (50 U.S.C. App.1etse q .) (TWEA) with respect to N orth K orea, as authori z ed in Proclamation 291 4 of D ecember 16, 1950, most recently continued under Presidential Determination 200 7 –32 of September 13, 2007 (72 FR 53407), and implemented by the regulations set forth below, is no longer in the national interest of the United States. S ection 1 . The exercise of TWEA authorities with respect to North Korea, which were implemented by the F oreign Assets Control Regula- tions, 31 C.F.R. part 500, and the Transaction Control Regulations, 31 C.F.R. part 505, and that were continued by Presidential Determination 2007–32 of September 13, 2007, is terminated, and Presidential Deter- mination 2007–32 is rescinded with respect to North Korea. Sec. 2. The Secretary of the Treasury is authorized and directed to ta k e all appropriate measures within the Secretary ’ s authority to give effect to this proclamation. Sec. 3 . This proclamation is not intended to, and does not, create any right, benefit, or privilege, substantive or procedural, enforceable at laworine q uity, by any party against the United States, its depart- ments, agencies, instrumentalities, or entities, its officers or employees, or any other person. Sec. 4 . This proclamation is effective at 12
01 a.m. eastern daylight time on J une 27, 200 8 . IN WITNESS WHEREOF, I have hereunto set my hand this twenty- sixth day of June, in the year of our Lord two thousand eight, and of the Independence of the United States of America the two hundred and thirty-second. GEORGE W. BUSH
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