Will this result in greater exports of OUR ammo to elsewhere, or greater imports of ammo to US?
Greatly help out manufacturers who export ammo, weapons, helicopters, encryption products, electronics or 12,000 other items on the US Munitions List.
Probably reduce the time/paperwork to import as well, but primarily a win on the export side.
The economy's going to hell, and the mini-geniuses in D.C. are focused on this? When the elves scurry about, one has to wonder. What's the subtext here? More to the point, who's profiting from these revisions? Does this mean more arms to Muslim "allies?" Or is it just a payoff to certain campaign contributors? What technologies are we talking about transferring? Point is, we can't trust the policy because we can't trust the policymakers.
Dude, this is the only thing thus far that WILL help the economy.
As for who is going to profit, anyone that sells products overseas. So now if you make a widget, you can sell it overseas without requiring a huge compliance/legal staff. Previously, if you were a small/medium sized business, you either lost quite a bit of your margin on compliance or you faced the risk of jail/fines/etc. There's going to be little difference between what technologies can be transferred, it's just how quickly it can be done and at what cost/time.
Most of the arms going to allies goes through the Foreign Military Sales program run by the Defense Security Cooperation Agency, which is exempt from the rules that apply to corporations.