Analysis Of Reciprocal Trade Agreements Act Of1934

The Reciprocal Trade Agreements Act of1934was the turning point in the tariffand foreign trade policy of the U.S.A. The bill was not only able to open up the foreigntrade market for the American, but it was also to make the United States gradually get tothe way of free trade. This paper reviews the historical origins on tariff legislation ofprotectionism in the U.S. Congress, revealing the historical background of theintroduction of the bill. Then analysis the introduced causes of the bill, systematicallycombing the introduced process, details the specific content of the bill and through acomparative study to the Smoot-Hawley Tariff Act, reveal characteristics of thereciprocal trade agreements act. Finally, comprehensively analysis and evaluate theinfluence of the bill to the United States Government formulated its trade policies, aswell as the role played in the formation of new mechanisms of American foreign tradepolicy. This analysis can help us understand not only the cause and significance ofAmerican foreign trade policy in20th century, but also provides historical reference forthe adjustment of Chinese foreign trade policy today.