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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 (WTO) ... [...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] |
Trade Act Of 2002
The Trade Act of 2002 (; ; ''U.S. Trade Promotion Authority Act'') granted the President of the United States the authority to negotiate trade deals with other countries and gives Congress the approval to only vote up or down on the agreement, not to amend it. This authority is sometimes called fast-track authority, since it is thought to streamline approval of trade agreements. This authority makes it easier to negotiate deals, which engenders both support and opposition, opposition coming from labor and environmental groups. The last time the President was granted fast-track authority was to negotiate the Uruguay Round Agreement of the World Trade Organization. The Uruguay Round was completed just as fast-track authority expired in 1994. The President went without the authority until it was renewed in 2002. The trade promotion authority expired in July 2007 (except for agreements already under negotiation), but was granted again by the Bipartisan Congressional Trade Priorities a ... [...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 befor ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China–United States Trade War
The China–United States trade war () is an ongoing economic conflict between the People's Republic of China and the United States of America. In January 2018, U.S. President Donald Trump began setting tariffs and other trade barriers on China with the goal of forcing it to make changes to what the U.S. says are longstanding unfair trade practices and intellectual property theft. The Trump administration stated that these practices may contribute to the U.S.–China trade deficit, and that the Chinese government requires transfer of American technology to China."Findings of the Investigation into China's Acts, Policies, and Practices Related to Technology Tran ... [...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 Foreign 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 Foreign 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 ... [...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] |
Special 301 Report
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 (19United States Code, U.S.C.]§ 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 (litigation), 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 un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Safeguard
A safeguard, in international law, is a restraint on international trade or economic development to protect communities from development aggression or home industries from foreign competition. In the World Trade Organization (WTO), a member may take a safeguard action, such as restricting imports of a product temporarily to protect a domestic industry from an increase in imports causing or threatening to cause injury to domestic production. In the United Nations Framework Convention on Climate Change, safeguards are intended to protect indigenous peoples and other local communities with traditional knowledge of natural resource management within efforts towards reducing emissions from deforestation and forest degradation. The WTO and UNFCCC concepts are related within international law. Background With UNFCC processes, safeguards became of concern in the 2010 United Nations Climate Change Conference. Within the WTO, safeguard measures were available under the General Agreemen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
