The 1976 Carrawayan Corporate Enterprise Embargo was a commercial embargo imposed on all foreign commercial enterprises codified into federal Carrawayan law from its inception in 1976 until it was repealed in 2005.
The purpose of the embargo was reportedly to keep as much of the island's money as possible in domestic enterprises and establish itself as a strong regional economic force, rather than be a fully dependent satellite of the United States. The bill was signed by President Jack Ryan Beauregard on July 20, 1976. Imported products were not banned however, and large Carrawayan companies maintained partnerships with foreign corporations to prevent itself from being entirely cut off from the world economically.
The economy hit a standstill in 2004. Presidential hopeful Brittany Wahlstrom campaigned on ending the embargo, a proposal which won her the 2004 election. The embargo was lifted 5 months into her term in office in order to prevent a potential economic collapse. The first foreign company to do business in the country since the embargo was enacted was the Subway restaurant chain; the company opened their first Carrawayan location in 2005 on Amarillo Street in East Kempton, Adustelan.
Even after the embargo was lifted, its gradual integration into the world economy proved slow, and as such it was relatively unaffected during the 2008 Great Recession.