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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] |
Trade Act Of 1974
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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Sanctions
Economic sanctions or embargoes are commercial and financial penalties applied by states or institutions against states, groups, or individuals. Economic sanctions are a form of coercion that attempts to get an actor to change its behavior through disruption in economic exchange. Sanctions can be intended to compel (an attempt to change an actor's behavior) or deter (an attempt to stop an actor from certain actions).Haidar, J.I., 2017Sanctions and Exports Deflection: Evidence from Iran" Economic Policy (Oxford University Press), April 2017, Vol. 32(90), pp. 319–355. Sanctions can target an entire country or they can be more narrowly targeted at individuals or groups; this latter form of sanctions are sometimes called "smart sanctions". Prominent forms of economic sanctions include trade barriers, asset freezes, travel bans, arms embargoes, and restrictions on financial transactions. The efficacy of sanctions in achieving intended goals is a subject of debate. Scholars hav ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
GATT
The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis". The GATT was first discussed during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). It was signed by 23 nations in Geneva on 30 October 1947, and was applied on a provisional basis 1 January 1948. It remained in effect until 1 January 1995, when the World Trade Organization (WTO) was established after agreement by 123 nations in Marrakesh on 15 April 1994, as part of the Uruguay Round Agreements. The WTO is the successor to the GATT, and the origin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Senate Finance Committee
The United States Senate Committee on Finance (or, less formally, Senate Finance Committee) is a standing committee of the United States Senate. The committee concerns itself with matters relating to taxation and other revenue measures generally, and those relating to the insular possessions; bonded debt of the United States; customs, collection districts, and ports of entry and delivery; deposit of public moneys; general revenue sharing; health programs under the Social Security Act (notably Medicare and Medicaid) and health programs financed by a specific tax or trust fund; national social security; reciprocal trade agreements; tariff and import quotas, and related matters thereto; and the transportation of dutiable goods. It is considered to be one of the most powerful committees in Congress. History The Committee on Finance is one of the original committees established in the Senate. First created on December 11, 1815, as a select committee and known as the Committee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The union has a total area of and an estimated population of over 449million as of 2024. The EU is often described as a ''sui generis'' political entity combining characteristics of both a federation and a confederation. Containing 5.5% of the world population in 2023, EU member states generated a nominal gross domestic product (GDP) of around €17.935 trillion in 2024, accounting for approximately one sixth of global economic output. Its cornerstone, the European Union Customs Union, Customs Union, paved the way to establishing European Single Market, an internal single market based on standardised European Union law, legal framework and legislation that applies in all member states in those matters, and only those matters, where the states ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2018 China–United States Trade Dispute
Eighteen or 18 may refer to: * 18 (number) * One of the years 18 BC, AD 18, 1918, 2018 Film, television and entertainment * ''18'' (film), a 1993 Taiwanese experimental film based on the short story ''God's Dice'' * ''Eighteen'' (film), a 2005 Canadian dramatic feature film * 18 (British Board of Film Classification), a film rating in the United Kingdom, also used in Ireland by the Irish Film Classification Office * 18 (''Dragon Ball''), a character in the ''Dragon Ball'' franchise * "Eighteen", a 2006 episode of the animated television series ''12 oz. Mouse'' Science * Argon, a noble gas in the periodic table * 18 Melpomene, an asteroid in the asteroid belt Music Albums * ''18'' (Moby album), 2002 * ''18'' (Nana Kitade album), 2005 * '' 18...'', 2009 debut album by G.E.M. * ''18'' (Jeff Beck and Johnny Depp album), 2022 Songs * "18" (5 Seconds of Summer song), from their 2014 eponymous debut album * "18" (One Direction song), from their 2014 studio album ''Four'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China
China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after India, representing 17.4% of the world population. China spans the equivalent of five time zones and Borders of China, borders fourteen countries by land across an area of nearly , making it the list of countries and dependencies by area, third-largest country by land area. The country is divided into 33 Province-level divisions of China, province-level divisions: 22 provinces of China, provinces, 5 autonomous regions of China, autonomous regions, 4 direct-administered municipalities of China, municipalities, and 2 semi-autonomous special administrative regions. Beijing is the country's capital, while Shanghai is List of cities in China by population, its most populous city by urban area and largest financial center. Considered one of six ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
First Presidency Of Donald Trump
Donald Trump's first tenure as the president of the United States began on January 20, 2017, when Trump First inauguration of Donald Trump, was inaugurated as the List of presidents of the United States, 45th president, and ended on January20, 2021. Trump, a Republican Party (United States), Republican from New York (state), New York, took office following his United States Electoral College, electoral college victory over Democratic Party (United States), Democratic nominee Hillary Clinton in the 2016 United States presidential election, 2016 presidential election. Upon his inauguration, he became the first president in American history List of presidents of the United States by previous experience, without prior public office or military background. Trump made an unprecedented number of False or misleading statements by Donald Trump, false or misleading statements during his Donald Trump 2016 presidential campaign, 2016 campaign and first presidency. Alongside Trump's pres ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ukraine
Ukraine is a country in Eastern Europe. It is the List of European countries by area, second-largest country in Europe after Russia, which Russia–Ukraine border, borders it to the east and northeast. Ukraine also borders Belarus to the north; Poland and Slovakia to the west; Hungary, Romania and Moldova to the southwest; and the Black Sea and the Sea of Azov to the south and southeast. Kyiv is the nation's capital and List of cities in Ukraine, largest city, followed by Kharkiv, Odesa, and Dnipro. Ukraine's official language is Ukrainian language, Ukrainian. Humans have inhabited Ukraine since 32,000 BC. During the Middle Ages, it was the site of early Slavs, early Slavic expansion and later became a key centre of East Slavs, East Slavic culture under the state of Kievan Rus', which emerged in the 9th century. Kievan Rus' became the largest and most powerful realm in Europe in the 10th and 11th centuries, but gradually disintegrated into rival regional powers before being d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Generalized System Of Preferences
The Generalized System of Preferences, or GSP, is a preferential tariff system which provides tariff reduction on various products. The concept of GSP is very different from the concept of " most favored nation" (MFN). MFN status provides equal treatment in the case of tariff being imposed by a nation but in case of GSP differential tariff could be imposed by a nation on various countries depending upon factors such as whether it is a developed country or a developing country. Both the rules comes under the purview of WTO. GSP provides tariff reduction for least developed countries but MFN is only for not discriminating among WTO members. History The idea of tariff preferences for developing countries was the subject of considerable discussion within the United Nations Conference on Trade and Development (UNCTAD) in the 1960s. Among other concerns, developing countries claimed that MFN was creating a disincentive for richer countries to reduce and eliminate tariffs and other tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unilateral
__NOTOC__ Unilateralism is any doctrine or agenda that supports one-sided action. Such action may be in disregard for other parties, or as an expression of a commitment toward a direction which other parties may find disagreeable. As a word, ''unilateralism'' is attested from 1926, specifically relating to unilateral disarmament. The current, broader meaning emerges in 1964. It stands in contrast with multilateralism, the pursuit of foreign policy Foreign policy, also known as external policy, is the set of strategies and actions a State (polity), state employs in its interactions with other states, unions, and international entities. It encompasses a wide range of objectives, includ ... goals alongside allies. Unilateralism and multilateralism represent different policy approaches to international problems. When agreement by multiple parties is absolutely required—for example, in the context of international trade policies— bilateral agreements (involving two part ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Code
The United States Code (formally The Code of Laws of the United States of America) is the official Codification (law), codification of the general and permanent Law of the United States#Federal law, federal statutes of the United States. It contains 53 titles, which are organized into numbered sections. The U.S. Code is published by the United States House of Representatives, U.S. House of Representatives' Office of the Law Revision Counsel. New editions are published every six years, with cumulative supplements issued each year.About United States Code . Gpo.gov. Retrieved on 2013-07-19. The official version of these laws appears in the ''United States Statutes at Large'', a chronological, uncodified compilation. Codification Process The official text of an Act of Cong ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
