§1821 Basic authority for trade agreements

Summary

If the President decides that U.S. or foreign import duties are unfairly hurting American trade and that acting would help the goals in section 1801, the President can, between June 30, 1962 and July 1, 1967, make trade agreements with other countries or their agencies. The President can also issue proclamations to change, keep, or add import duties or duty-free and excise treatments to carry out those agreements. Such proclamations cannot lower any duty to less than 50 percent of its level on July 1, 1962, and cannot raise or impose any duty more than 50 percent above its level on July 1, 1934.