Conventional Arms Transfer Control Act

[AI summary unavailable — showing source text] Conventional Arms Transfer Control Act - Amends the Arms Export Control Act to: (1) reaffirm the U.S. commitment to self-restraint through selective conventional arms transfers to developing nations and through a commitment to qualitative guidelines for conventional arms transfers; (2) declare that the United States and the Soviet Union should begin negotiations to resume the conventional arms transfer talks; (3) declare the United States should begin discussions with other arms-supplying nations to limit conventional arms transfers to developing nations and establish guidelines for such transfers; and (4) declare the United States should begin conventional arms transfer discussions between nations selling conventional weapons and nations purchasing such weapons to limit such arms transfers. Directs the President to report to the Congress on actions taken to meet such objectives. Directs the President to submit a report to the Congress, within six months, on U.S. policies concerning exports of conventional arms and possible approaches to developing multilateral limitations on conventional arms transfers. Adds information which the President must include in the annual report to the …