Did the Reciprocal Trade Agreements Act of 1934 initiate a Revolution in the American Trade Policy?
Some historians think that the Reciprocal Trade Agreements Act (RTAA) of 1934 marked a revolution in the American commercial policy. In order to evaluate this assessment we examine in detail the trade policy instruments implemented and the outcomes yielded by the American trade policy after 1934 and before the GATT came into effect (1948). We conclude that the RTAA did not revolutionize the American trade policy. The RTAA conveys first of all a change in the protection technology. But the “new” American trade policy was also given the goal to expand American exports and to promote the American economic and political influence in the world, while the “ancient” one has been more defensive and had intended first to protect the American economy from foreign competition.
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Volume (Year): 34 (2009)
Issue (Month): 4 ()
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