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Section 301
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 Wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Act Of 1974
The Trade Act of 1974 (, codified at ) was passed to help industry in the United States become more competitive or phase workers into other industries or occupations. 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 the Marrakech Agreement transforming the GATT into the World Trade Organization (W ... [...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 tr ... [...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 original ... [...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 Committe ... [...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 located primarily in Europe, Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a ''sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. 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 Un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2018 China–United States Trade Dispute
Eighteen or 18 may refer to: * 18 (number), the natural number following 17 and preceding 19 * 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'' Music Albums * ''18'' (Moby album), 2002 * ''18'' (Nana Kitade album), 2005 * '' 18...'', 2009 debut album by G.E.M. Songs * "18" (5 Seconds of Summer song), from their 2014 eponymous debut album * "18" (One Direction song), from their 2014 studio album ''Four'' * "18", by Anarbor from their 2013 studio album '' Burnout'' * "I'm Eighteen", by Alice Cooper commonly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China
China, officially the People's Republic of China (PRC), is a country in East Asia. It is the world's List of countries and dependencies by population, most populous country, with a Population of China, population exceeding 1.4 billion, slightly ahead of India. China spans the equivalent of five time zones and Borders of China, borders fourteen countries by land, the List of countries and territories by land borders, most of any country in the world, tied with Russia. Covering an area of approximately , it is the world's third List of countries and dependencies by area, largest country by total land area. The country consists of 22 provinces of China, provinces, five autonomous regions of China, autonomous regions, four direct-administered municipalities of China, municipalities, and two special administrative regions of China, Special Administrative Regions (Hong Kong and Macau). The national capital is Beijing, and the List of cities in China by population, most populous cit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Presidency Of Donald Trump
Donald Trump's tenure as the 45th president of the United States began with his inauguration on January 20, 2017, and ended on January 20, 2021. Trump, a Republican from New York City, took office following his Electoral College victory over Democratic nominee Hillary Clinton in the 2016 presidential election, in which he lost the popular vote to Clinton by nearly 3 million votes. Upon his inauguration, he became the first president in American history without prior public office or military background. Trump made an unprecedented number of false or misleading statements during his campaign and presidency. His presidency ended with defeat in the 2020 presidential election to Democrat Joe Biden after one term in office. Trump was unsuccessful in his efforts to repeal the Affordable Care Act but took measures to hinder its functioning and rescinded the individual mandate. Trump sought substantial spending cuts to major welfare programs, including Medicare and Medicai ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Compact Discs
The compact disc (CD) is a digital optical disc data storage format that was co-developed by Philips and Sony to store and play digital audio recordings. In August 1982, the first compact disc was manufactured. It was then released in October 1982 in Japan and branded as '' Digital Audio Compact Disc''. The format was later adapted (as CD-ROM) for general-purpose data storage. Several other formats were further derived, including write-once audio and data storage (CD-R), rewritable media ( CD-RW), Video CD (VCD), Super Video CD (SVCD), Photo CD, Picture CD, Compact Disc-Interactive (CD-i) and Enhanced Music CD. Standard CDs have a diameter of and are designed to hold up to 74 minutes of uncompressed stereo digital audio or about 650 MiB of data. Capacity is routinely extended to 80 minutes and 700 MiB by arranging data more closely on the same sized disc. The Mini CD has various diameters ranging from ; they are sometimes used for CD singles, storing up to 24 minut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ukraine
Ukraine ( uk, Україна, Ukraïna, ) is a country in Eastern Europe. It is the second-largest European country after Russia, which it borders to the east and northeast. Ukraine covers approximately . Prior to the ongoing Russian invasion, it was the eighth-most populous country in Europe, with a population of around 41 million people. It is also bordered by Belarus to the north; by Poland, Slovakia, and Hungary to the west; and by Romania and Moldova to the southwest; with a coastline along the Black Sea and the Sea of Azov to the south and southeast. Kyiv is the nation's capital and largest city. Ukraine's state language is Ukrainian; Russian is also widely spoken, especially in the east and south. During the Middle Ages, Ukraine was the site of early Slavic expansion and the area later became a key centre of East Slavic culture under the state of Kievan Rus', which emerged in the 9th century. The state eventually disintegrated into rival regional powe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Sanctions
Economic sanctions are commercial and financial penalties applied by one or more countries against a targeted self-governing state, group, or individual. Economic sanctions are not necessarily imposed because of economic circumstances—they may also be imposed for a variety of political, military, and social issues. Economic sanctions can be used for achieving domestic and international purposes. The efficacy of sanctions is debatable—there are many failures—and sanctions can have unintended consequences. Economic sanctions may include various forms of trade barriers, tariffs, and restrictions on financial transactions. Since the mid-1990s, United Nations Security Council (UNSC) sanctions have tended to target individuals and entities, in contrast to the comprehensive embargoes of earlier decades. An embargo is similar, but usually implies a more severe sanction. An embargo (from the Spanish ''embargo'', meaning hindrance, obstruction, etc. in a general sense, a trading ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Code
In the law of the United States, the Code of Laws of the United States of America (variously abbreviated to Code of Laws of the United States, United States Code, U.S. Code, U.S.C., or USC) is the official compilation and codification of the general and permanent federal statutes. It contains 53 titles (Titles 1–54, excepting Title 53, which is reserved for a proposed title on small business). The main edition is published every six years by the Office of the Law Revision Counsel of the House of Representatives, and cumulative supplements are published annually.About United States Code Gpo.gov. Retrieved on 2013-07-19. The official version of these laws appears in the '' United States Stat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
