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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.
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 ...
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 ...
The agreement was originally established in 1979 as the "Tokyo Round Government Procurement Code", [1] which entered into force in 1981 under the auspices of the General Agreement on Tariffs and Trade. [2] It was then renegotiated in parallel with the Uruguay Round in 1994, and this version entered into force on 1 January 1996.
The TPA law was known as the Bipartisan Congressional Trade Priorities and Accountability Act of 2015, [29] and the TAA law was known as the Trade Preferences Extension Act of 2015. [ 30 ] The ultimate approval of this legislation conferred on the Obama administration "enhanced power to negotiate major trade agreements with Asia and Europe."