Trade Act of 1974
Trade Act of 1974
§ LEGISLATIONtrade· 1975
What It Did
Granted the president authority to negotiate trade agreements and created the "fast track" procedure for congressional approval. Established Section 301, giving the president power to retaliate against unfair foreign trade practices, and expanded trade adjustment assistance for displaced workers.
The Vote
House · 323–36 (passage)
D
205 YEA · 20 NAY
R
118 YEA · 16 NAY
Senate · 77–4 (passage)
D
48 YEA · 3 NAY
R
29 YEA · 1 NAY
Key Sponsors
→ Wilbur Mills (D-AR) · House
→ Russell Long (D-LA) · Senate
Sources: Congress.gov · VoteView · FRED
In the Years Following
Economic indicators related to this law, showing 5 years before through 10 years after.
Unemployment Rate
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Productivity (Output/Hour)
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Labor Force Participation
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Many factors influence economic outcomes. This chart shows trends in the years surrounding this legislation — not necessarily caused by it.