jun 1, 1934 - Reciprocal Trade Agreement (June 1934)

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Congress passes Reciprocal Trade Agreements (1934) - lift Amer exports, for relief & recovery; Low-tariff policy measures, not wholesale tariff revision, Pacts effective w/o formal Senate approval → speedier action, no Congress lobbying, Willing to lower rates by 50% if other country willing to respond w/ similar reductionsn, Paved way for Amer-led free-trade int’l econ system after WWII

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