phosphate export argued october decided november government filed civil antitrust action appellee association member firms charging violations sherman act regard sales association concentrated phosphate republic korea foreign aid program two cases government let contracts remaining nine let agency korean government agency international development aid retained effective control transactions approving procurement financing thereof shipping trial upheld appellees contention exempt antitrust liability act acts done course export trade appellee association since dissolved alleging recent aid regulation made continued operation uneconomical held case moot pp government sought relief association also members pp aid regulation apply contracts former members association might bid appellees statement uneconomical engage joint operations standing alone satisfy stringent test mootness appellees may show remand likelihood violations sufficiently remote make injunctive relief unnecessary pp antitrust exemption act enacted extend foreign trade without significantly injuring american consumers insulate transactions initiated controlled financed government merely foreign government nominal purchaser pp economic reality transactions shows american participation overwhelmingly dominant foreign elements comparatively insignificant burden noncompetitive pricing fell foreign purchaser american taxpayer stretches neither language purpose act determine sales exports pp contracts involved world major trading nations ineligible compete procurement limited essentially underdeveloped countries major impact permitting combination appellees desire encourage exports deprive americans main benefits competition among american firms deputy attorney general christopher argued cause brief solicitor general griswold acting assistant attorney general zimmerman lawrence wallace howard shapiro samuel murphy argued cause appellees brief marcus hollabaugh alan ward concentrated phosphate export murphy andrew kilcarr american cyanamid lawrence mckay jerrold van cise grace edgar barton international minerals chemical edward howrey john bodner mobil oil alfred berman randolph guggenheimer tennessee appellees justice marshall delivered opinion involved case sales concentrated phosphate made appellee association phosphate supplied association members producers fertilizer shipped republic korea foreign aid program government civil antitrust complaint filed december contended concerted activities association members regard sales violated sherman act stat amended appellees defended ground inter alia activities exempted antitrust liability act stat act done course export trade trial held act immunize appellees conduct supp dismissed complaint government perfected direct appeal expediting act stat amended probable jurisdiction noted two factors make argument untenable first dissolved association defendant case government sought injunctive relief association members well prohibited forming new export associations without approval continuing effect prices jointly agreed upon therefore even dissolution made impossible frame effective relief association party difficulty secondly new aid regulation apply contracts former members association might bid whenever foreign bidders eligible aid still permits american associations compete fact foreign bidders eligible transactions gave rise suit therefore however much new regulation may reduce practical importance case completely remove controversy absent relief prayed appellees free act concert certain situations government contends must compete test mootness cases stringent one mere voluntary cessation allegedly illegal conduct moot case courts compelled leave defendant free return old ways grant see freight case might become moot subsequent events made absolutely clear allegedly wrongful behavior reasonably expected recur appellees statement uneconomical engage joint operations statement standing alone suffice satisfy heavy burden persuasion held rests upon appellees shoes grant course still open appellees show remand likelihood violations sufficiently remote make injunctive relief unnecessary matter trial judge case technically moot appeal properly taken choice decide ii transactions involved controlled impressive network international treaties agreements well american statutes regulations administrative procedures procurement process revealed stipulated record rather involved began funds appropriated congress funds allocated various development programs aid accordance provisions applicable statutes aid assessments priorities money allocated korea process simply shipped seoul used korea wished fact never left country accordance series agreements korea authorized request finance purchases certain eligible commodities rather complicated procurement authorization application prepared aid form korean signature application sets forth goods purchased also rather detailed specifications quality delivery plans bidding procedures statement explaining korea need goods even though aid officials obviously must participated drafting requests aid way obligated approve agreement korea specifically aid may decline finance specific commodity service judgment financing inconsistent purposes grant foreign assistance act amended transaction approved procurement authorization issued aid specifically made subject detailed regulations specify procedures followed awarding contracts also contained authorization specified american bank pay goods procured aid way chosen goods purchased either two methods procurement used two cases government let contracts general services administration nine cases formal act letting contracts performed office supply republic korea osrok performing task koreans subject detailed regulation aid invitation bids even submitted aid circulated country documents english criteria selecting winning contractors carefully defined advance abstract bids received notice naming contractor selected sent washington finally letter credit issued supplier paid payor bank reimbursed treasury goods shipped consigned osrok aid last precaution reserved right vest title action necessary assure compliance provisions purposes act congress cfr asked decide whether transactions sort constitute act done course export trade within meaning exemption sherman act although act statute books half century first time called upon interpret meaning words export trade upon full consideration language purpose legislative history statute reverse judgment iii reading act confirmed structure legislative history act contains number provisos obviously designed protect domestic interests combinations congress authorizing act done export association restraint trade within words export trade exclude among things selling consumption within association forbidden enter agreement artificially intentionally enhances depresses prices within substantially lessens competition within otherwise restrains trade therein legislative history even explicit hearings bill one congressman charles carlin virginia stated clearly later one dominant themes floor debate question addressed chairman federal trade commission testifying support bill said frank say personally sympathy foreigner pays products like see american manufacturers get largest price possible indirection going set system going fix higher price eventually home combination suggested bill think well see system dangerous one hearings house committee judiciary atmosphere act passed clear congress thought increase american exports depriving foreigners benefits competition among american firms without significant way injuring american consumers cf alkali export assn validity economic judgment us question quite relevant interpreting language congress chose question us whether congress meant exemption insulate transactions initiated controlled financed american government foreign government nominal purchaser think interpreting antitrust laws bound formal conceptions contract law simpson union oil must look economic reality relevant transactions although fertilizer shipments consigned korea although cases korea formally let contracts american participation overwhelmingly dominant feature burden noncompetitive pricing fell foreign purchaser american taxpayer essence furnishing fertilizer korea aid selected commodity determined amount purchased controlled contracting process paid bill foreign elements transactions comparison insignificant stretches neither language purpose act determine sales exports appellees contend contrary result reached competing contracts foreign suppliers evidently contention therefore fall within class congress intended allow form export associations aid already given american suppliers great competitive advantages battle foreign firms governing statute requires preference american procurement foreign assistance act stat none contracts involved major trading nations world eligible compete procurement limited essentially underdeveloped countries say american producers need additional stimulus able compete strains credulity major impact allowing combination appellees desire encourage american exports place burden noncompetitive pricing shoulders american taxpayer whatever impact exports might clear framers act intend americans deprived main benefits competition among american firms since relevant aspects transactions involved american korean hold export trade within meaning act remand district may decide issues relevant resolution controversy reversed footnotes nothing contained sections title shall construed declaring illegal association entered sole purpose engaging export trade actually engaged solely export trade agreement made act done course export trade association provided association agreement act restraint trade within restraint export trade domestic competitor association provided association either elsewhere enter agreement understanding conspiracy act artificially intentionally enhances depresses prices within commodities class exported association substantially lessens competition within otherwise restrains trade therein section act stat defines export trade solely trade commerce goods wares merchandise exported course exported territory thereof foreign nation words export trade shall deemed include production manufacture selling consumption resale within territory thereof goods wares merchandise act course production manufacture selling consumption resale fed reg codified cfr appendix amended regulation applies certain specified commodities motion affirm dismiss see aid operations report fiscal year large percentage foreign aid procurement actually coming american sources exceeds required regulation appellees contend economic factors dictated dissolution supra government argue dissolution related fact notice appeal case filed november government evidently contest export status two fertilizer sales korea made one paid korea foreign exchange funds financed special stabilization fund granted use latter fund fully controlled grants financed purchases involved particular limitation specific list commodities contained record program assistance grant agreement dated november appendix although agreement applied earlier transactions involved stipulated record contains examples complete compilation documents involved case earlier agreements included record contain limitations give government equivalent powers see appendix regulations collected cfr government raises questions various provisos included act accordingly intimate opinion scope brief mention congressional debates existence american loans european nations whose purchasing power might reduced higher american export prices see cong rec isolated statement determine meaning statute case clear america world war loans bear little resemblance modern foreign aid program expected repaid also loans made subject detailed american administrative control typical today foreign aid program justice white justice stewart joins dissenting majority holds today concentrated phosphate shipped american firm florida republic korea solicited bids world market exports within meaning act stat supplied funds korea used pay purchases retained limited power control expenditure korea obliged repay funds directly required set aside proceeds resale phosphate counterpart funds spent ways prescribed decision conforms neither plain meaning word exports underlying purposes act statute defines export trade trade goods exported course exported case tons concentrated phosphate shipped directly association florida korea ordinary sense goods exported even aid regulations refer receiving countries importers transactions exports cfr district found aid encouraged least tolerated bidding associations transactions exclusion definition exports goods sold consumption within discussed majority application case parties stipulated since phosphate obviously consumed korea contention purely domestic trade restrained way prices enhanced depressed given clarity statute need resort legislative history unexcelled chemical even legislative history lends support majority indeed leads contrary conclusion majority asserts congress thought increase american exports ending competition foreign shipments among american firms without impairing domestic competition correct congress recognized trade foreign nations ringed antitrust restrictions keep domestic industry competitive congress found foreign trusts substantial advantages american competitors offer extend credit fill large orders single american firm fill maintain staffs keep touch foreign demand cheaply single american seller advertising distribution costs generally lower separate american firms made findings congress concluded american firms allowed combine achieve lower costs lower prices comprehensive effective service order able compete equal footing foreign shipments transaction american goods compete foreign goods foreign consumption congress objection formation american associations achieve lower prices compete foreign suppliers competition involved graphically illustrated fact korean purchases involved case foreign bidders successful capturing least part market government admits foreign competition never absent precisely enable american firms meet competition act passed moreover kindness american taxpayer carve exception forbidding formation associations case given assumptions act passed congress specifically discussed phosphate commodity american associations necessary order achieve savings organization enable compete foreign cartels price service without associations congress concluded american firms underbid foreign competitors even case association bidding foreign cartels captured business majority opinion american taxpayers paying american dollars buy foreign cartels goods obtained cheaply american associations employing american workers congress explicitly found associations lead lower higher prices competition foreign suppliers basis joint efforts american companies export trade exempted antitrust laws charged duty faithfully execute laws honor exemption challenge facile assertions act chauvinistic certainly equipped empowered challenge either exemption assumptions rests carve exception word export based notions sound economic policy contradict plain words statute congressional judgment american associations necessary lower prices combat foreign competition exception ever justified case americans paying bill also foreign competition absent case two transactions challenged general services administration solicited bids korea neither government finds distinction significant funds used support korean american military establishments korea finance public works generally available requested indeed even government statistics relating balance payments refer shipments exports department commerce bureau census statistical abstract cfr et seq see sess sess hearings senate committee interstate commerce thirteen phosphate purchases made korea government challenges aid regulations apply transactions alone foreign bidders captured business cong rec remarks senator kellogg