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The International Emergency Economic Powers Act (IEEPA), Title II of Pub. L. Tooltip Public Law (United States) 95–223, 91 Stat. 1626, enacted October 28, 1977, is a United States federal law authorizing the president to regulate international commerce after declaring a national emergency in response to any unusual and extraordinary threat to the United States which has its source in whole ...
The 1973–1975 recession or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall post–World War II economic expansion. It differed from many previous recessions by involving stagflation, in which high unemployment and high inflation existed simultaneously.
SALT I is the common name for the Strategic Arms Limitation Talks Agreement signed on May 26, 1972. SALT I froze the number of strategic ballistic missile launchers at existing levels and provided for the addition of new submarine-launched ballistic missile (SLBM) launchers only after the same number of older intercontinental ballistic missile (ICBM) and SLBM launchers had been dismantled. [2]
The War Powers Resolution (also known as the War Powers Resolution of 1973 or the War Powers Act) (50 U.S.C. ch. 33) is a federal law intended to check the U.S. president 's power to commit the United States to an armed conflict without the consent of the U.S. Congress. The resolution was adopted in the form of a United States congressional ...
The Smithsonian Agreement, announced in December 1971, created a new dollar standard, whereby the currencies of a number of industrialized states were pegged to the US dollar. These currencies were allowed to fluctuate by 2.25% against the dollar. The Smithsonian Agreement was created when the Group of Ten (G-10) states (Belgium, Canada, France ...
Signed into law by President Gerald Ford on January 3, 1975. The Trade Act of 1974 (Pub. L. 93–618, 88 Stat. 1978, enacted January 3, 1975, codified at 19 U.S.C. ch. 12 [1]) was passed to help industry in the United States become more competitive or phase workers into other industries or occupations.
A great power is a sovereign state that is recognized as having the ability and expertise to exert its influence on a global scale. Great powers characteristically possess military and economic strength, as well as diplomatic and soft power influence, which may cause middle or small powers to consider the great powers' opinions before taking actions of their own.
The National Emergencies Act (NEA) (Pub. L. 94–412, 90 Stat. 1255, enacted September 14, 1976, codified at 50 U.S.C. § 1601 –1651) is a United States federal law passed to end all previous national emergencies and to formalize the emergency powers of the President. The Act empowers the President to activate special powers during a crisis ...