THE CABINET: Treaty Trade

Most frequent criticism of the Trade Agreements Act of 1934, under which Cordell Hull has patiently woven a network of reciprocal trade treaties with 16 foreign countries, is that tariff concessions granted to any signatory country are automatically extended to 70-odd non-signatory countries with which the U. S. has "most-favored-nation" agreements. From the standpoint of Free Trader Hull, this is the strongest point of his policy since generalizing concessions tends to increase the volume of world trade. But it has given many a Hull critic an opportunity to argue that with...

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