23 mar 1934 año - Reciprocal Trade Agreement Act
Descripción:
Economic
The House initially passed the Reciprocal Trade Agreement Act, for the first time granting the President its traditional power to levy tariffs. The act not only gave President Franklin D. Roosevelt the authority to adjust tariff rates, but also the power to negotiate bilateral trade agreements without receiving prior congressional approval. Advocates believed that granting these powers to the Roosevelt White House would help the administration quickly conclude agricultural trade agreements to speed recovery of the Depression-ravaged economy. Critics thought the law might enable the President to forgive or postpone debt owed by a foreign country and undermine American industry. To assuage such concerns, the bill was amended with a three-year expiration date on all trade agreements.
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