Sec. 101. BASIC AUTHORITY FOR TRADE AGREEMENTS
274 words·~1 min read·
/statute-compilations/comps-10384/sec-101A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 101 BASIC AUTHORITY FOR TRADE AGREEMENTS ###
(a)Whenever the President determines that any existing duties or other import restrictions of any foreign country or the United States are unduly burdening and restricting the foreign trade of the United States and that the purposes of this Act will be promoted thereby, the President— ####
(1)during the 5-year period beginning on the date of the enactment of this Act, may enter into trade agreements with foreign countries or instrumentalities thereof; and ####
(2)may proclaim such modification or continuance of any existing duty, such continuance of existing duty-free or excise treatment, or such additional duties, as he determines to be required or appropriate to carry out any such trade agreement. ###
(b)####
(1)Except as provided in paragraph (2), no proclamation pursuant to subsection (a)(2) shall be made decreasing a rate of duty to a rate below 40 percent of the rate existing on January 1, 1975. ####
(2)Paragraph
(1)shall not apply in the case of any article for which the rate of duty existing on January 1, 1975, is not more than 5 percent ad valorem. ###
(c)No proclamation shall be made pursuant to subsection (a)(2) increasing any rate of duty to, or imposing a rate above, the higher of the following: ####
(1)the rate which is 50 percent above the rate set forth in rate column numbered 2 of the Tariff Schedules of the United States as in effect on January 1, 1975, or ####
(2)the rate which is 20 percent ad valorem above the rate existing on January 1, 1975. **[**[19 U.S.C. 2111](/us/usc/t19/s2111)**]**
Connectionstraces to 1
Traces to 1 document
Citation graph
cites case law
Sec. 101
BASIC AUTHORITY FOR TRADE AGREEMENTS
Cites 1Cited by 0 across 0 sources