Trade Expansion Act of 1962

Trade Expansion Act of 1962

Legislation in the United States giving the president the authority to reduce tariffs on imports up to 50% in order to encourage international trade. While the act expired in 1967, the Johnson administration used its authority to reduce tariffs in the Kennedy Round of the General Agreement on Tariffs and Trade.
References in periodicals archive ?
Since the Trade Expansion Act of 1962, which authorized the Kennedy Round, trade negotiations have greatly increased domestic prosperity while also providing assistance for displaced workers.
Trade adjustment assistance was introduced in the United States as part of the Trade Expansion Act of 1962, which supplanted the 1934 Reciprocal Trade Agreements Act (RTAA).
The Department of Commerce made this determination after an investigation begun under Section 232 authority of the Trade Expansion Act of 1962 as a result of a petition filed by Coors Electronic Package Co.