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Trade Act

In U.S. Law legislation granting the President broad authority to enter into international agreement to reduce import barriers. Major purposes are:

  • Protect American industry and workers against unfair or injurious import competition.
  • Provide adjustment assistance to industries, workers and communities injured or threatened by increase imports.
  • Strengthen economic relations with other countries through open and non-discriminatory trading practices.

The Trade Act allows the President to extend tariff preferences to certain imports from developing countries and set conditions under which Most-Favoured-Nations Treatment could be extended to non market economy countries.

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