aug 22, 1974 - Trade Act of 1974

Description:

participation in international trade and reduce trade disputes. The act provided the authority to reduce or eliminate trade barriers, improve relationships with nonmarket (Communist) and developing economies, and change to injurious and unfair competition laws.

The act also provided relief for American industries negatively affected by increased international trade and changed tariffs on imports from developing countries. Further, it provided for U.S. action against foreign countries whose import activities unfairly disadvantaged American labor and industry.