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Facts Forum News, Vol. 5, No. 2, February 1956
File 042
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Facts Forum. Facts Forum News, Vol. 5, No. 2, February 1956 - File 042. 1956-02. University of Houston Libraries. University of Houston Digital Library. Web. December 3, 2020. https://digital.lib.uh.edu/collection/1352973/item/909/show/881.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum. (1956-02). Facts Forum News, Vol. 5, No. 2, February 1956 - File 042. Facts Forum News, 1955-1956. University of Houston Libraries. Retrieved from https://digital.lib.uh.edu/collection/1352973/item/909/show/881

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

Facts Forum, Facts Forum News, Vol. 5, No. 2, February 1956 - File 042, 1956-02, Facts Forum News, 1955-1956, University of Houston Libraries, accessed December 3, 2020, https://digital.lib.uh.edu/collection/1352973/item/909/show/881.

Disclaimer: This is a general citation for reference purposes. Please consult the most recent edition of your style manual for the proper formatting of the type of source you are citing. If the date given in the citation does not match the date on the digital item, use the more accurate date below the digital item.

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Title Facts Forum News, Vol. 5, No. 2, February 1956
Alternate Title Facts Forum News, Vol. V, No. 2, February 1956
Series Title Facts Forum News
Creator
  • Facts Forum
Publisher Facts Forum
Date February 1956
Language eng
Subject
  • Anti-communist movements
  • Conservatism
  • Politics and government
  • Hunt, H. L.
Place
  • Dallas, Texas
Genre
  • journals (periodicals)
Type
  • Text
Identifier AP2.F146 v. 5 1956; OCLC: 1352973
Collection
  • University of Houston Libraries
  • Facts Forum News
Rights No Copyright - United States
Item Description
Title File 042
Transcript (Continued) ORGANIZATI Against OTC gress itself is empowered by the Constitution to regulate foreign commerce and to shape the tariff. Nevertheless, despite the delegation of power to the President in 1922, Congress itself again wrote a tariff law in 1929-30. This was called the Hawley-Smoot Tariff but officially was known as the Tariff Act of 1930. It is still the basic law. That was the last time, twenty-five years ago, that Congress itself overhauled the tariff structure. In 1934 the so-called Reciprocal Trade Agreements Act was passed, amending the 1930 Act by empowering the President to enter into foreign trade agreements under which tariff rates might be raised or lowered by as much as 50 per cent. The principle of reciprocity, though not mentioned in the Act itself, became the ostensible guide of the Department of State in negotiating reduction of our tariff rates as a means of reducing trade barriers to our exports to other countries. Some twenty-nine individual or bilateral agreements were made with other countries by 1945. Thereafter the multilateral system was introduced and under it the General Agreement on Tariffs and Trade, known as GATT, was negotiated in Geneva in 1947. Subsequently three more tariff- cutting conferences have been held and we have another one coming up early this year. By this time our tariff has been reduced a full 75 per cent during the twenty-one years since 1934. The relinquishment by Congress of direct tariff-making functions (with minor exceptions) and the delegation of power to the President, as just described, took place during the same twenty-one year period. U. S. OR UN IN CONTROL Today, however, a new departure is proposed. This would not be a relinquishment by Congress of its authority through delegation to the executive, but would represent a virtual abdication by Congress and the shift of control over our tariff to an international body. In 1955 the State Department nego tiated a new agreement. This 1S! agreement to set up what is to called the Organization for Trade" operation or OTC. The new org* tion would be an agency of the Utf Nations, and it would be dedicate" the attainment of the purposes J objectives of the General Agrc on Tariffs and Trade (GATT), it would administer. It would a(* plish this through an Assembly, \,|l](.| Executive Committee and a Seer* ti()I| General. The United Stat, have one vote. . deW. A bill has already been introd* T£ into Congress to approve U. S. ",• ously bership in the OTC. It is II. B-J si,,,,',,., and will come up during this se* dear , of Congress. , •' men This proposal marks a radi<*. | )„ parture from control by (Jon tariffs and trade. It repr,-'" (,'K. double delegation of authority' Cvil from Congress to the Presidents Liti,,,, OTC. Jt would in practice gress out of its constitutional j*ment; and responsibility, and tin the power of the electoral, ""' "lent 1 mine the direction of public aK 'm'tit ] this field. In short, the prop"**!, "'"" c precipitated a crisis in dem"° '"' "ist precipiti government. For OTC in the three multilateral trade negotiations that have been undertaken since 1947. (2) It sets down in its general provisions trade rules to guide the conduct of international trade among the member countries. These trade rules are designed to protect the lower tariff rates that have been agreed upon by prohibiting the use of certain practices that would impair the benefits of those rates. (3) It provides a forum for discussion and voluntary settlement of international trade problems and disputes. Recognition of the need for such a multilateral agreement arose out of the experience of the I'. S. and other countries in the '30's in concluding bilateral trade agreements. By the beginning of the postwar period it had become clear to most countries that there were inherent limitations in the bilateral approach which would make difficult or impossible any further real progress in reducing world trade barriers. There were several kinds of limita tions in the bilateral approach. In the first place, when a country engages in a purely bilateral agreement, it is usually not prepared to make concessions of major importance because to do so would seriously reduce its bargaining power in subsequent negotiations with other countries. This is so because under the most-favored-nation principle, which most nations follow, any rate reduction made to one country must be extended automatically, and for nothing, to all its trading partners. It became apparent that only under a system of multilateral negotiation, where many countries were prepared to grant concessions simultaneously, could a given country expect to get enough in return to make significant concessions on its part worthwhile. Secondly, bilateral negotiations tended to be carried on in a sporadic and piecemeal fashion. A tariff concession was usually made on an item in negotiation with a country which was the principal supplier of that item. The result was that no country could have any confidence that tariffs on products of which it was a secondary supplier (and therefore not a primary negotiator) would be reduced ■■" hi hroiigh negotiations bet^e^^'t principal traders. The inulti".t] CJ> "lent ( .,1 li.rl . till' prtuujiw unci>, i.n I jniose simultaneous negotiations u» JTK GATT have gone far to h^cossio, the most important products ° ja\\ _. country would be treated son1 tcumstti in the multilateral negotiatinI*J|clause" thus all countries would '/lie pr, benefit of the concessions Kjfo the For example, the U. S. ha negotiated within the Genera1 Taf ^ ment concessions with ea, other parties benefiting soine yrtent cent of U. S. exports. aiii"l"1,ivliieh 1953 to 0,7 billion dollars. In "guards we got the advantage ol c""Sr'<'i,t resulting from negotiations ^"ntei other countries affecting s of our exports or 1.3 bilH"" *at ;| in 1953. bif°"1(' Thirdly, there was little sulfate S( the rates established under t^ucl, , era! system. . . . Countries <$, Q'^ co, jov concessions thev recch1'. V ""'*; tlie most-favored-nation p''" ,»'tl <'"11 ... i .... ,i ..-..ini! 1 'the as long as the negotiating jfe r F countries kept to their ''"',, ■,'!' ' d enjovment of SjJT ,s r ; depended on V »' only two coU'i'V "'e ■ er which other countries, ' ntrol. Under the Genera1 ,s contr Page 40 Facts Forum News, /•'<''"'"'
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