Events

1962 Trade Act

1962 Trade Act

Full Name
1962 Trade Act
Event Type
Start Date
11
Primary Date
10/1962

The Trade Expansion Act of 1962 is an American trade law signed by then President of the United States John F. Kennedy, believing it as the most important piece of legislation that can affect economies since the passage of the Marshall Plan. The Trade Act of 1962 authorizes the President of the US to adjust the imports of goods or materials from foreign countries if it deems the quantity or circumstances surrounding those imports to threaten national security. The Act paved the way for the Kennedy Round of General Agreement of Tariffs and Trade (GATT) negotiations.

  • Section 232 authorizes the president to implement protectionist measures, including tariffs, to safeguard national security