Reciprocal Trade Agreements Act
Reciprocal Trade Agreements Act of 1934
§ LEGISLATIONtrade· 1934
What It Did
Authorized the president to negotiate bilateral tariff reductions of up to 50% without congressional approval for each deal. Reversed the protectionist direction of Smoot-Hawley and laid the groundwork for the postwar multilateral trade system.
The Vote
House · 274–111 (passage)
D
269 YEA · 11 NAY
R
2 YEA · 99 NAY
Senate · 57–33 (passage)
D
51 YEA · 5 NAY
R
5 YEA · 28 NAY
Key Sponsors
→ Cordell Hull (D-TN) · Senate
Sources: Congress.gov · VoteView · FRED
In the Years Following
Economic indicators related to this law, showing 5 years before through 10 years after.
Manufacturing Employment
Loading...
Industrial Production Index
Loading...
Many factors influence economic outcomes. This chart shows trends in the years surrounding this legislation — not necessarily caused by it.