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The Trade Agreements Act of 1979 (TAA), Pub. L. 96–39, 93 Stat. 144, enacted July 26, 1979, codified at 19 U.S.C. ch. 13 (19 U.S.C. §§ 2501–2581), is an Act of Congress that governs trade agreements negotiated between the United States and other countries under the Trade Act of 1974.
The Tokyo Round was a multi-year multilateral trade negotiation (MTN) between the 102 states which were parties to the General Agreement on Tariffs and Trade (GATT). The negotiations resulted in reduced tariffs and established new regulations aimed at controlling the proliferation of non-tariff barriers (NTBs) and voluntary export restrictions.
In 1979, as part of the Tokyo Round of the General Agreement on Tariffs and Trade (GATT), the enabling clause was adopted in order to permit trading preferences targeted at developing and least developed countries which would otherwise violate Article I of the GATT.
The American Institute of Taiwan had outlined 9 core summary points in the 1979 agreement between the United States and China. [2]1. The US recognized that the Government of the People's Republic of China as "the sole legal Government of China", and it acknowledged the Chinese position that "there is but one China and Taiwan is part of China".
As Trade Representative, Strauss completed the Tokyo Round of Multilateral Trade Negotiations and secured the agreement's ratification by the US Congress in the Trade Act of 1979. Then, Carter asked Strauss to undertake an even more challenging task as his Personal Representative to the Middle East .
The 5th G7 Summit was held at Tokyo, Japan between June 28 and 29, 1979. The venue for the summit meetings was the State Guesthouse in Tokyo, Japan. [2]The Group of Seven (G7) was an unofficial forum which brought together the heads of the richest industrialized countries: France, West Germany, Italy, Japan, the United Kingdom, the United States, Canada (since 1976), [3] and the President of ...
1930: Smoot–Hawley Tariff Act; 1934: Reciprocal Tariff Act; 1947: General Agreement on Tariffs and Trade; 1962: Trade Expansion Act; 1974: Trade Act of 1974; 1979: Trade Agreements Act of 1979; 1984: Trade and Tariff Act of 1984; 1988: Omnibus Foreign Trade and Competitiveness Act; 1994: World Trade Organization created; 2002: 2002 United ...
The Trade Act of 1974 created fast track authority for the President to negotiate trade agreements that Congress can approve or disapprove but cannot amend or filibuster. The Act provided the President with tariff and non-tariff trade barrier negotiating authority for the Tokyo Round of multilateral trade negotiations. Gerald Ford was the ...