Trade Agreements Act Of 1934

The authorization of the RTAA was granted for three years from the date of entry into force of the RTAA (June 12, 1934). [5] The authorization was renewed in 1937 [6], 1940 [7], 1943 [8], 1945 [9]. 79th „Minority Views,“ in Congressional Record, March 27, 1934, pp. 5532-33Google Scholar; Vandenburg, Congressional Record, 18-05-1934, pp. 9081-82Google Scholar. For an overview of constitutional issues, see Sayre, The Way Forward, chap. 7.Google Scholar When President Franklin Delano Roosevelt took office in March 1933, he immediately focused his attention on the domestic economic situation created by the Great Depression. Convinced that the recovery would come from measures at home rather than abroad, he assured Congress of the passage of a series of far-reaching domestic economic reforms that would be known as the first New Deal. His doubts about the ability of foreign economic policy to contribute to the domestic recovery were reflected in his approach taken at the London Economic Conference.

In June 1933, representatives of 66 countries met in London to emerge from the depression by cooperating in areas such as reducing trade barriers and stabilizing exchange rates. Countries that remained on the gold standard, such as France, tried to convince countries that had left the gold standard, notably the United Kingdom (September 1931) and the United States (April 1933) to agree on the stabilization of the nominal values of their currencies. The chances of success were already slim when Roosevelt on July 3 dismissed such an agreement as a „purely artificial and temporary experiment,“ claiming that a „healthy internal economic situation“ was more important to a country`s prosperity than the external value of its currency. It gave the president the power to negotiate bilateral and reciprocal trade agreements with other countries and allowed Roosevelt to liberalize U.S. trade policy around the world. It is widely attributed that it use opened the era of liberal trade policy, which lasted throughout the twentieth century. [2] 7. These are implied in Lowis, Theodore Classic, „American Business, Public Policy, Case Studies, and Political Theory,“ World Politics 16 (07 1964) CrossRefGoogle Scholar, although, as will be clear, Lowi`s interpretation of the change in trade policy from a „distributive“ theme to a „regulatory“ theme is only partially correct. Pastor, Robert takes an explicitly institutional approach to trade policy in Congress and to the politics of U.S. economic policy (Berkeley: University of California Press, 1980) Google Scholar; see p. 84-93 pour son interprétation de la RTAA. Voir également l’excellente étude de Robert Brenner, Steven, « Economic Interests and the Trade Agreements Program, 1937-1940: A Study of Institutions and Political Influence », ph.D.

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