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Find more facts and information on our topic page about reciprocal trade agreement

Reciprocal Trade Agreements Act

The Oxford Essential Dictionary of the U.S. Military | 2001 | © The Oxford Essential Dictionary of the U.S. Military 2001, originally published by Oxford University Press 2001. (Hide copyright information) Copyright

Reciprocal Trade Agreements Act an act passed by Congress in 1934 to authorize the president to establish tariff-reduction agreements with foreign countries and without Congressional approval. Based on an idea proposed by Secretary of State Cordell Hull, it encouraged mutually beneficial negotiations and trade with foreign governments, and it led to the General Agreement on Tariffs and Trade of 1947.

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