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1974 Trade Act
The Trade Act of 1974 (, codified at ) was passed to give the President more power in matters of trade agreements and tariffs. Fast track authority The Trade Act of 1974 created fast track authority for the President to negotiate trade agreements that Congress can approve or disapprove but cannot amend or filibuster. The Act provided the President with tariff and non-tariff trade barrier negotiating authority for the Tokyo Round of multilateral trade negotiations. Gerald Ford was the President at the time. The fast track authority created under the Act was set to expire in 1980, was extended for 8 years in 1979, was renewed again in 1988 until 1993 to allow for the negotiation of the Uruguay Round within the framework of the General Agreement on Tariffs and Trade (GATT), and was again extended to 16 April 1994, a day after the Uruguay Round concluded in thMarrakesh Agreementtransforming the GATT into the World Trade Organization (WTO). It was restored in 2002 by the Trade Act o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Customs Duties
Customs is an authority or agency in a country responsible for collecting tariffs and for controlling the flow of goods, including animals, transports, personal effects, and hazardous items, into and out of a country. Traditionally, customs has been considered as the fiscal subject that charges customs duties (i.e. tariffs) and other taxes on import and export. In recent decades, the views on the functions of customs have considerably expanded and now covers three basic issues: taxation, security, and trade facilitation. Each country has its own laws and regulations for the import and export of goods into and out of a country, enforced by their respective customs authorities; the import/export of some goods may be restricted or forbidden entirely. A wide range of penalties are faced by those who break these laws. Overview Taxation The traditional function of customs has been the assessment and collection of customs duties, which is a tariff or tax on the importation or, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Government Publishing Office
The United States Government Publishing Office (USGPO or GPO), formerly the United States Government Printing Office, is an agency of the legislative branch of the United States federal government. The office produces and distributes information products and services for all three branches of the Federal Government, including U.S. passports for the Department of State as well as the official publications of the Supreme Court, the Congress, the Executive Office of the President, executive departments, and independent agencies. An act of Congress changed the office's name to its current form in 2014. History Establishment of the Government Printing Office The Government Printing Office was created by congressional joint resolution () on June 23, 1860. It began operations March 4, 1861, with 350 employees and reached a peak employment of 8,500 in 1972. The agency began transformation to computer technology in the 1980s; along with the gradual replacement of paper with el ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Agreements Act Of 1979
The Trade Agreements Act of 1979 (TAA), , codified at (), is an Act of Congress that governs trade agreements negotiated between the United States and other countries under the Trade Act of 1974. It provided the implementing legislation for the Tokyo Round of the General Agreement on Tariffs and Trade. The stated purposes of the TAA are: * Approve and implement the trade agreements negotiated under the Trade Act of 1974 * Foster the growth and maintenance of an open world trading system * Expand opportunities for the commerce of the United States in international trade * Improve the rules of international trade and to provide for the enforcement of such rules, and for other purposes The TAA can restrict procurement of goods and services for federal contracts, if the program management office decides to check TAA compliance. In many ways the TAA supersedes the Buy American Act, because the TAA allows the President to waive the Buy American Act under certain conditions. Federa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Expansion Act
The Trade Expansion Act of 1962 (, codified at ) is an American trade law. Section 232 of the act permits the president to impose tariffs based on a recommendation by the U.S. secretary of commerce if "an article is being imported into the United States in such quantities or under such circumstances as to threaten or impair the national security."Shannon Togawa Mercer & Matthew KahnAmerica Trades Down: The Legal Consequences of President Trump's Tariffs, ''Lawfare'' (March 13, 2018). This section was used only in 1979 and 1982, and had not been invoked since the creation of the World Trade Organization in 1995, until President Trump cited it on March 8, 2018, to impose tariffs on steel and aluminum. History In 1962, Congress granted the president of the United States unprecedented authority to negotiate tariff reductions of up to 80%. It paved the way for the Kennedy Round of General Agreement on Tariffs and Trade (GATT) negotiations, concluding on June 30, 1967, the last day b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China–United States Trade War
An economic conflict between China and the United States has been ongoing since January 2018, when U.S. president Donald Trump began Tariffs in the first Trump administration, imposing tariffs and other trade barriers on China with the aim of forcing it to make changes to what the U.S. has said are longstanding unfair trade practices and Allegations of intellectual property theft by China, intellectual property theft. The First presidency of Donald Trump, first Trump administration stated that these practices may contribute to the U.S.–China Balance of trade, trade deficit, and that the Government of China, Chinese government requires the transfer of American technology to China. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uruguay Round Agreements Act
The Uruguay Round Agreements Act (URAA; ) is an Act of Congress in the United States that implemented in U.S. law the Marrakesh Agreement of 1994. The Marrakesh Agreement was part of the Uruguay Round of negotiations which transformed the General Agreement on Tariffs and Trade (GATT) into the World Trade Organization (WTO). One of its effects is to give United States copyright protection to foreign works that had previously been in the public domain in the United States. Legislative history U.S. President Bill Clinton sent the bill for the URAA to Congress on September 27, 1994, where it was introduced in the House of Representatives as H.R. 5110U.S. Library of Congress: H.R. 5110 at THOMAS''. URL last accessed 2007-05-08. and in the Senate as S. 2467.U.S. Library of Congress: S. 2467 at THOMAS''. URL last accessed 2007-05-08. The bill was submitted under special fast-track procedures under which neither chamber could modify it. The House passed the bill on November 29, 1994; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Omnibus Foreign Trade And Competitiveness Act
The Omnibus Trade and Competitiveness Act of 1988 is an act passed by the United States Congress and signed into law by President Ronald Reagan. History During the 1970s, the U.S. trade surplus slowly diminished and turned into an increasing deficit. As the deficit increased through the 1980s, some of the blame fell on the tariffs placed on US products by foreign countries, and the lack of similar tariffs on imports into the United States. Workers, unions and industry management all called for government action against countries with an unfair advantage. The Omnibus Trade and Competitiveness Act started as an amendment proposed by Rep. Dick Gephardt (D-MO) to order the Executive branch to thoroughly examine trade with countries that have large trade surpluses with the United States. If the trade surpluses continued, the offending country would be faced with a bilateral surplus-reduction requirement of 10%. Because of its style of zero-sum game thought, it is considered by e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Priority Foreign Country
The Special 301 Report is prepared annually by the Office of the United States Trade Representative (USTR) that identifies trade barriers to United States companies and products due to the intellectual property laws, such as copyright, patents and trademarks, in other countries. By April 30 of each year, the USTR must identify countries which do not provide "adequate and effective" protection of intellectual property rights or "fair and equitable market access to United States persons that rely upon intellectual property rights". The Special 301 Report is published pursuant to Section 301 of the Trade Act of 1974 (, ) as amended by Section 1303 of the Omnibus Trade and Competitiveness Act of 1988. The Special 301 Report was first published in 1989. By statute, the annual Special 301 Report includes a list of "Priority Foreign Countries", that are judged to have inadequate intellectual property laws; these countries may be subject to sanctions. In addition, the report contains ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Section 301 Of The Trade Act Of 1974
Section 301 of the U.S. Trade Act of 1974 (19U.S.C.br>§ 2411 last amended March 23, 2018) authorizes the President to take all appropriate action, including tariff-based and non-tariff-based retaliation, to obtain the removal of any act, policy, or practice of a foreign government that violates an international trade agreement or is unjustified, unreasonable, or discriminatory, and that burdens or restricts U.S. commerce. Section 301 cases can be self-initiated by the United States Trade Representative (USTR) or as the result of a petition filed by a firm or industry group. If USTR initiates a Section 301 investigation, it must seek to negotiate a settlement with the foreign country in the form of compensation or elimination of the trade barrier. For cases involving trade agreements, the USTR is required to request formal dispute proceedings as provided by the trade agreements. The law does not require that the U.S. government wait until it receives authorization from the Wor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
