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Topic: Reciprocal Trade Agreements Act

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  Reciprocal Trade Agreements Act - Wikipedia, the free encyclopedia
The Reciprocal Trade Agreements Act - 1934 - Provided for the negotiation of tariff agreements with separate nations, particularly Latin American countries.
The President was authorized by Congress for a fixed period of time to negotiate on bilateral basis with other countries and then implement reductions in tariffs (up to 50% in existing tariffs) in exchange for compensating tariff reductions by the partner trading country.
It was a response the Hawley-Smoot tariff bill, which showed that Congress was unable to create a coherent, non-biased trade policy.
en.wikipedia.org /wiki/Reciprocal_Trade_Agreements_Act   (121 words)

 EH.Net Encyclopedia: From GATT to WTO: The Evolution of an Obscure Agency to One Perceived as Obstructing Democracy
Thus, trade policy was a tug of war between the branches and the two branches did not always agree on the mix of trade promotion and protection.
It was built on the Reciprocal Trade Agreements Act, which allowed the executive branch to negotiate trade agreements, with temporary authority from the Congress.
Although the United States did not ban trade in slaves until 1807, the US was among the first nations to ban goods manufactured by forced labor (prison labor) in the Tariff Act of 1890 (section 51) (Aaronson, 2001, 44).
eh.net /encyclopedia/article/aaronson.gatt   (2421 words)

 CTPS Articles: Free Trade Nationalism by Brink Lindsey   (Site not responding. Last check: 2007-10-18)
Of course, the equation of trade with war is economic nonsense.
I believe there is. Trade agreements can strengthen the political case for freer trade at home by adding the gains from freer trade abroad to the calculus.
Free trade and conservatism are increasingly at odds, and it’s a conflict that threatens both causes.
www.freetrade.org /pubs/articles/bl-11-02-98.html   (1689 words)

 [No title]   (Site not responding. Last check: 2007-10-18)
Proponents of free trade are neither as visible nor as effective as are opponents of free trade.
We need to trade to get certain items like tea, coffee, bananas, rubber, etc. Most of the world's population is located where the food is not grown, so some form of trade is necessary for global survival.
Trade is based on comparative advantage which is defined as the capability to produce goods or services relatively more cheaply than others are willing and able to do.
www.ag.auburn.edu /aec/courses/agec4300/chap7policy.htm   (1599 words)

 Free Trade Free World: The Advent of GATT
It was built on a multilateral trade agreement, the GATT (General Agreement on Tariffs and Trade), established in 1948.
To reiterate, the trade agreement used to reduce protectionism allowed protectionism and was built to accommodate protectionism.
Until 1995, when the United States joined the WTO, the GATT was simply a trade agreement, a club, because the reciprocal trade agreements act did not authorize the executive branch to sign a treaty or build an international organization.
www.eh.net /bookreviews/library/0162.shtml   (1637 words)

 The White House - Fast Track   (Site not responding. Last check: 2007-10-18)
Today, President Clinton transmitted to the Congress the "Export Expansion and Reciprocal Trade Agreements Act of 1997." This proposal is designed to renew "fast-track" procedures for trade agreements requiring congressional approval and implementation as well as to renew the President's authority to proclaim tariff reductions in return for tariff reduction commitments by U.S. trading partners.
Because the Congress and the President are united under the proposal, it tells U.S. trading partners that the United States speaks at the bargaining table with one voice and that the Congress will not seek to reopen trade agreements after they are negotiated.
Provided the President observes each of the proposal's notice, consultation, and other procedures in connection with the negotiation of a trade agreement, the agreement and its implementing legislation are subject to fast-track consideration in the Congress.
www.sice.oas.org /geograph/north/WH091697.asp   (1380 words)

 Committee on Ways and Means, Full Committee, Action Advisory
In addition, the United States Trade Representative (USTR) would be required to preserve the ability of the United States to enforce vigorously its trade laws and avoid agreements which lessen the effectiveness of domestic and international disciplines on unfair trade.
In addition, there are additional consultation requirements with respect to trade agreements where the subject matter concerns two of the principal negotiating objectives: the objective concerning trade barriers and distortions that are directly related to trade, and the objective concerning labor, the environment, and other matters.
Title II of the bill would harmonize the general trade adjustment assistance (TAA) and the North American Free Trade Agreement related TAA programs for workers, both of which are administered by the Department of Labor, and the TAA program for firms, administered by the Department of Commerce.
waysandmeans.house.gov /legacy/fullcomm/105cong/fc-17act.htm   (1515 words)

 [No title]   (Site not responding. Last check: 2007-10-18)
However, while the RTAA was an exceptional policy framework for fulfilling the free trade vision of the New Deal Democratic majority, by itself it does not explain why and how that framework was used to achieve trade liberalization during the last seventy years of controversy over the wisdom of trade.
On one hand, with a Republican shift in favor of reciprocal trade, Congress not only not repeal the RTAA but “granted the President one-year extensions of [RTAA] authority in 1953 and 1954,” despite Republican control of both branches of government.
And, it overwhelmingly passed the Trade Agreements Act of 1979 favoring the Tokyo Round of multinational trade negotiations. On the other hand, politicians heavily influenced by specific industries managed to win protective concessions in exchange for their support for broader liberalization.
www.eecs.tufts.edu /~ptsipman/usforecpolicyb.doc   (952 words)

 Outline of the American Economy: - 10
U.S. protectionism peaked in 1930 with the enactment of the Smoot-Hawley Act, a tariff law which intensified the effects of the Great Depression.
The Reciprocal Trade Agreements Act of 1934 gave the president the authority to negotiate trade agreements with individual countries, and greatly reduced duties on their exports to the United States in return for similar concessions on U.S. exports to their countries.
U.S. support for liberalizing trade was instrumental in creation of the General Agreement on Tariffs and Trade (GATT), an international code of tariff and trade rules that was signed by 23 countries in 1947 and represented over 90 countries by the end of the 1980s.
odur.let.rug.nl /usa.990917/ECO/1991/ch10_p2.htm   (401 words)

 Presidential Papers, Doc#860 To Daniel Alden Reed, 6 May 1954. In The Papers of Dwight David Eisenhower
Accomplishing enactment of the heart of the program--amendment of the Reciprocal Trade Agreements Act--would, I believe, best be served by careful and deliberate action taken on the basis of extensive and unhurried hearings.
In addition to the initiation of hearings on the vital subject of extension and amendment of the Reciprocal Trade Agreements Act, there is much else that should be accomplished in this session of Congress to carry into effect the recommendations of my message on foreign economic policy.
The Trade Agreements Extension Act of 1953 would expire on June 12, 1954.
www.eisenhowermemorial.org /presidential-papers/first-term/documents/860.cfm   (823 words)

 Committee on Ways and Means, Subcommittee on Trade, 9-30-97 Testimony
It has also concluded a framework agreement with Chile which is expected to lead to a free trade agreement by 1999 based on recent reports.
First, fast track would allow us to complete the built-in agenda of the World Trade Organization: that is, conclusion of the major trade negotiations that were deferred at the end of the Uruguay Round and participation in negotiations mandated by the Uruguay Round agreements in areas ranging from rules of origin to services.
In addition, the President is required to inform Congress of any other agreements he intends to conclude with the country or countries in question in addition to the trade agreement itself.
waysandmeans.house.gov /Legacy/trade/105cong/9-30-97/9-30bars.htm   (3737 words)

 Matthew Yglesias: CAFTA: Bad
Unilateral free trade is way, way, way off the political agenda at the moment, but it worked for Britain during the first era of globalization, and it's just as well -- if not better -- supported by economic theory than bi- or multi-lateral trade agreements.
So, to sum up, your "free trade" position on CAFTA is to tell the democratic leaders of the region that in our judgement they should have made a better deal on intellectual property and excepted our idea of what their labor standards should be.
Trade is elevated to the highest value, even exceeding human life: the state of California might wind up paying a billion dollars in sanctions to Methanex, a Canadian firm, for banning MTBE.
yglesias.typepad.com /matthew/2005/04/cafta_bad.html   (4143 words)

 US Department of State Bulletin: Looking toward London: 10 years of economic summitry - address by W. Allen Wallis - ...
Coming 4 years after the Smoot-Hawley Tariff Act had devastated world trade, and a year after the United States had "torpedoed" the London economic conference, the Reciprocal Trade Agreements Act was the first major step in the emergence of the United States into global economic leadership.
Yet the essential goal of the Reciprocal Trade Agreements Act--trade liberalization--remains one of the central objectives of the United States as we approach the 10th economic summit.
Concern about exchange rates led to agreement to develop a framework in which the five countries with special responsibilities for the international monetary and financial systems--namely the United States, Japan, the F.R.G., the United Kingdom, and France--could consult more effectively about the effects of their domestic economic policies on the international economy.
www.findarticles.com /p/articles/mi_m1079/is_v84/ai_3329231   (1368 words)

 Annotated Constitution pg 496
A prolific source of executive agreements has been the authorization of reciprocal arrangements between the United States and other countries for the securing of protection for patents, copyrights, and trademarks.
Congress authorized the President to enter into agreements with other nations for reductions of tariffs and other impediments to international trade and to put the reductions into effect through proclamation.
Congress has, with respect to the authorization to the President to negotiate multilateral trade agreements under the auspices of GATT, constrained itself in considering implementing legislation, creating a ``fast-track'' procedure under which legislation is brought up under a tight timetable and without the possibility of amendment.
www.eco.freedom.org /ac92/ac92pg0496.shtml   (312 words)

 Cordell Hull Institute: News
The other was persuading Congress in the Reciprocal Trade Agreements Act of 1934 to move from the “autonomous tariff” to the “contractual tariff” by delegating to the President the setting of tariffs and making of trade policy.
On becoming Secretary of State, Hull’s Reciprocal Trade Agreements Program, following the worldwide havoc and misery wrought by the Smoot-Hawley Tariff Act of 1930, was a key factor in rebuilding international commerce.
And it is shirking the international trade challenges of the 21st century.
www.cordellhullinstitute.org /news   (1650 words)

 Smoot-Hawley Tariff
Calls for increased protection flooded in from industrial sector special interest groups and soon a bill meant to provide relief for farmers became a means to raise tariffs in all sectors of the economy.
The United States generally assumed the mantle of champion of freer international trade, as evidenced by its support for the General Agreement on Tariffs and Trade (GATT), the North American Free Trade Agreement (NAFTA), and the World Trade Organization (WTO).
Douglas A. Irwin, “From Smoot-Hawley to Reciprocal Trade Agreements: Changing the Course of U.S. Trade Policy in the 1930s,” in Michael D. Bordo, Claudia Goldin, and Eugene N. White, Editors, The Defining Moment: The Great Depression and the American Economy in the Twentieth Century (Chicago: University of Chicago Press, 1998).
www.state.gov /r/pa/ho/time/id/17606.htm   (563 words)

 SSRN-Cordell Hull, the Reciprocal Trade Agreement Act, and the WTO by Kenneth Dam
SSRN-Cordell Hull, the Reciprocal Trade Agreement Act, and the WTO by Kenneth Dam
Cordell Hull, the Reciprocal Trade Agreement Act, and the WTO
The ideas were, in turn, the fundamental negotiating principles of the General Agreement on Tariffs and Trade (GATT) and are still the basis for the World Trade Organization (WTO) Doha round of trade negotiations.
papers.ssrn.com /sol3/papers.cfm?abstract_id=604582   (306 words)

 List of tariffs - Wikipedia, the free encyclopedia
1951 - Reciprocal Trade Agreements Act PL 82-50
1962 - Trade Expansion Act PL 87-794 began the late 20th century process of removing tariffs
1984 - Trade and Tariff Act PL 98-573
en.wikipedia.org /wiki/List_of_tariffs   (198 words)

 CRS Report: 97-957 - Fast-Track Negotiating Proposals: A Comparison of H.R. 2621 and S. 1269 - NLE   (Site not responding. Last check: 2007-10-18)
In June, the Speaker of the House stated that fast-track trade legislation would be on the House agenda later in the year.
Section 102(c) does not authorize the use of fast-track procedures "to modify United States law." Were mere approval of an agreement to be considered such a modification, the use of fast track procedures to approve such an agreement would seemingly be precluded.
In the past, Congress made all changes to domestic law that it viewed were needed to implement the agreements within the implementing legislation and included in it a provision that denies domestic effect to provisions of agreements approved in the legislation that conflict with federal law.
www.ncseonline.org /NLE/CRSreports/Economics/econ-27.cfm;?&CFID=281589&CFTOKEN=58893978   (1388 words)

 Microeconomics - Chapter 24 Supplemental
A. Gave the president the authority to negotiate agreements with foreign nations w whereby, American tariffs on foreign goods would be reduced up to 50% of existing rates.
This act was broadened to GATT (General Agreement on Tariffs and Trade) in 1947.
In a free trade area, members agree upon nondiscriminatory treatment in the free flow of goods and services between one another and are free to treat nonmember nations as they wish.
faculty.mc3.edu /kbaird/Michnd24.htm   (870 words)

 Emergency Committee For American Trade - Hot Issues
Washington, D.C, June 14, 2001---Calman J. Cohen, President of the Emergency Committee for American Trade (ECAT), welcomed today the Trade Promotion Authority Act of 2001, introduced by Ways and Means Trade Subcommittee Chairman Crane and cosponsored by 61 Members of the House.
"Trade Promotion Authority is critical to help restore U.S. leadership on trade and open new opportunities for American companies and their workers and families."
Over the last decade alone, U.S. exports have accounted for one-quarter of U.S. economic growth and have contributed significantly to the high standard of living enjoyed by American workers and their families.
www.ecattrade.com /press/content.asp?ID=122   (329 words)

 International Information Programs, U.S. Department of State, Economic Perspectives, February 2000 -- Crafting a Global ...
It also established the post of special representative for trade negotiations in the Executive Office of the President to lead U.S. trade negotiation delegations as well as interagency trade policy committees.
It achieved an agreement to provide 4.5 million tons of wheat a year in food assistance to impoverished countries.
Governing the WTO are a number of legal texts, most notably the General Agreement on Tariffs and Trade, the General Agreement on Trade in Services, and the agreement on Trade-Related Aspects of Intellectual Property Rights.
usinfo.state.gov /journals/ites/0200/ijee/chronology.htm   (737 words)

 Workers' Rights   (Site not responding. Last check: 2007-10-18)
More than ever before, trade and trade negotiations are affecting the everyday lives of Americans, and as a result, trade negotiations have become a subject of public debate across the country.
Discussions of a possible link between labor standards and international trade are often reduced to a debate on the single issue of trade sanctions as a weapon for enforcing respect for a given level of labor standards.
The authority was renewed for eight years by the trade Agreements Act of 1979 and for five years in the Omnibus Trade and Competitiveness Act of 1988.
www.commercialdiplomacy.org /ma_projects/ma_workers_rights.htm   (9403 words)

 [No title]
For a discussion of this and other trade legislation, see CRS Issue Brief 97016, Trade Agreements: Renewing the Negotiating and Fast Track Implementing Authority.
However, the term "directly related to trade" would appear to most participants and observers in trade matters to require additional negotiation among Members of Congress to get clarity on what would and would not be included in this terminology if this proposal is introduced.
On environment, the bill states that, "it is the policy of the United States to reinforce the trade agreements process by...
countingcalifornia.cdlib.org /crs/ascii/97-879   (589 words)

 [No title]
Renegotiation Act; appropriations for Southwestern Power Administration; presidential authority to enter into trade agreements; Reciprocal Trade Agreements Act; taxation of insurance companies; relations with Organization for European Economic Cooperation and European Payments Union; import quotas on fruits and vegetables; unemployment insurance.
Taxation of state and municipal obligations; taxation of cooperatives; taxation of insurance companies; reciprocal trade agreements; copy of letter from Strom Thurmond to Harry F. Byrd; employee benefit associations; taxation of telephone service; limitations on national banks; bank reserve accounts; taxation of dividends.
Bricker Amendment; food shortages in Europe; Reciprocal Trade Agreements Act; communism; foreign aid; reports from Mike Mansfield re the Foreign Operations Administration and on Indochina; correspondence re: businessman from India who wanted to travel to the U.S. Correspondents include: Carl Hayden; Oklahoma Farm Bureau; Theodore Francis Green.
www.ou.edu /special/albertctr/archives/KerrInventory/KerrLeg08.htm   (770 words)

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