Taussig, F.W.
April 1933
Foreign Affairs;Apr1933, Vol. 11 Issue 3, p397
This article discusses the evolution of United States commercial policy regarding trade arrangements with other countries in the post-World War I period. The policy regarding reciprocal trade arrangements dates in part from 1909, in part from the first half of the decade 1920-1930. It rests to some extent on diplomatic action, mainly on legislation. It was enacted in 1909 that the U.S. would deal with foreign countries simply and solely on the penalty basis. The duties then imposed were expressly stated to constitute the minimum tariff of the U.S. The maximum was, on each several rate, 25 percent in addition. This maximum tariff the President was authorized to apply to imports from a country which in any way "unduly discriminated" against the U.S. The diplomatic side of American policy brings in specifically the most-favored-nation clause.


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