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The Reciprocal Tariff Act (enacted June 12, 1934, ch. 474, 48 Stat. 943, 19 U.S.C. § 1351) provided for the negotiation of tariff agreements between the United States and separate nations, particularly Latin American countries. [1]
1934: Reciprocal Tariff Act; 1947: General Agreement on Tariffs and Trade; 1962: Trade Expansion Act; 1974: Trade Act of 1974; 1979: Trade Agreements Act of 1979; 1984: Trade and Tariff Act of 1984; 1988: Omnibus Foreign Trade and Competitiveness Act; 1994: World Trade Organization created; 2002: 2002 United States steel tariff; 2002: Trade Act ...
On April 7, 1953 President Dwight D. Eisenhower requested that Congress extend for one year the Reciprocal Trade Agreements Act, a measure which had originally been passed in 1934. Under this act and its subsequent extensions, the President was authorized to negotiate agreements with other countries for tariff reduction.
After winning the election, President Franklin D. Roosevelt and the now-Democratic Congress passed Reciprocal Trade Agreements Act of 1934. This act allowed the President to negotiate tariff reductions on a bilateral basis and treated such a tariff agreement as regular legislation, requiring a majority, rather than as a treaty requiring a two ...
In 1934, the U.S. Congress, in a rare delegation of authority, passed the Reciprocal Tariff Act of 1934, which authorized the executive branch to negotiate bilateral tariff reduction agreements with other countries. The prevailing view then was that trade liberalization may help stimulate economic growth.
A recent analysis from Reinsch and Warren Maruyama, a former general counsel at the US Trade Representative, laid out the extensive authorities that allow presidents to impose tariffs on their own.
The Good Neighbor Policy caused the annulment of the Platt Amendment in 1934, though the U.S. did continue to exert influence on Cuban affairs. In one notable example, the U.S. government expressed to the Cuban government that it should increase American quotas for Cuban sugar under a trade agreement, with the idea that it would benefit Cuba's ...
On trade agreements, the Trump administration’s moves ranged from very bad to mundane to comically weird. ... Given how much Trump campaigned on global and reciprocal tariffs, moreover, we ...