Agricultural Trade Act of 1978

[AI summary unavailable — showing source text] Agricultural Export Trade Expansion Act - Title I: Intermediate Credit - Amends the Food for Peace Act of 1966 to authorize the Commodity Credit Corporation to finance export sales of agricultural commodities on credit terms in excess of three years, but not more than ten years. Restricts such financing to export sales that will: (1) develop or maintain the importing nation as a foreign market for the commercial sale and export of United States agricultural commodities without displacing normal commercial sales; or (2) otherwise improve the capability of the importing nation to purchase and use, on a long-term basis, such commodities. Requires the Secretary of Agriculture to obtain commitments from purchasers to prevent resale or transshipment to other nations of commodities, the domestic sale or distribution of reserve stocks, so financed. Establishes a penalty for noncompliance with such commitments. Exempts export sales financed under this title from the cargo preference laws. Title II: Commodity Credit Corporation Financing of Deferred Payment Sales; Credit Sales to the People's Republic of China - Directs the Secretary to provide Commodity Credit Corporation financing to expor…