Omnibus Trade and Competitiveness Act
Long title | An Act to enhance the competitiveness of American industry, and for other purposes. |
---|---|
Nicknames | Agricultural Competitiveness and Trade Act of 1988 |
Enacted by | the 100th United States Congress |
Effective | August 23, 1988 |
Citations | |
Public law | 100-418 |
Statutes at Large | 102 Stat. 1107 |
Codification | |
Titles amended | 19 U.S.C.: Customs Duties |
U.S.C. sections created | 19 U.S.C. ch. 17 § 2901 et seq. |
Legislative history | |
|
The Omnibus Trade and Competitiveness Act of 1988 is an act passed by the United States Congress and signed into law by President Ronald Reagan.
History
During the 1970s, the U.S. trade surplus slowly diminished and turned into an increasing deficit. As the deficit increased through the 1980s, some of the blame fell on the tariffs placed on US products by foreign countries, and the lack of similar tariffs on imports into the United States. Workers, unions and industry management all called for government action against countries with an unfair advantage.
The Omnibus Trade and Competitiveness Act started as an amendment proposed by Rep. Dick Gephardt (D-MO) to order the Executive branch to thoroughly examine trade with countries that have large trade surpluses with the United States. If the trade surpluses continued, the offending country would be faced with a bilateral surplus-reduction requirement of 10%. Because of its style of zero-sum game thought, it is considered by economists to be a modern form of mercantilism.
Expiration
The act was signed into law by President Reagan, slightly less strict than proposed, as the Omnibus Trade and Competitiveness Act of 1988. It expired in 1991 and was not renewed until 1994 by President Bill Clinton. It again expired in 1997 and was renewed once more by Clinton in 1999, and was followed by the Trade Act of 2002.
See also
References
- Appleyard, Dennis R, Alfred J Field and Steven L. Cobb. International Economics. McGraw-Hill Irwin, 2006
- Cass, Ronald A. "Velvet Fist in an Iron Glove: The Omnibus Trade and Competitiveness Act of 1988" Regulation, Winter 1991.
External links
- Omnibus Trade and Competitiveness Act of 1988 as amended (PDF/details) in the GPO Statute Compilations collection
- Omnibus Trade and Competitiveness Act of 1988 as enacted (details) in the US Statutes at Large
- v
- t
- e
- 40th President of the United States (1981–1989)
- 33rd Governor of California (1967–1975)
politics
- Birthplace
- Pitney Store
- Boyhood home
- General Electric Showcase House
- 668 St. Cloud Road
- Rancho del Cielo
- Filmography
- Political positions
- Governorship of California
- Rockefeller Commission
- Citizens for the Republic
- Presidential Library and Museum
- Reagan era
- Reagan coalition
- 1989 trip to Japan
- Ronald and Nancy Reagan Research Institute
- Death and state funeral
(timeline)
- Transition
- First inauguration and Release of hostages
- Second inauguration
- Assassination attempt
- Cabinet
- Judicial appointments
- Administration scandals
- AIDS
- Bush transition
- Impeachment efforts
- Opinion polling
- Executive orders
- Presidential proclamations
- Ronald Reagan Speaks Out Against Socialized Medicine (1961)
- "A Time for Choosing" (1964)
- States' rights speech (1980)
- Inaugural address
- "Ash heap of history" (1982)
- "Evil empire" (1983)
- "Tear down this wall!" (1987)
- Joint session of Congress (1981)
- State of the Union Address
Gubernatorial | |
---|---|
Presidential |
depictions
- Bibliography
- In music
- Let Them Eat Jellybeans! (1981)
- U.S. Postage stamps
- Rap Master Ronnie
- Ed the Happy Clown (1983 comic series)
- Spitting Image (TV series) (1984)
- A Mind Forever Voyaging (1985 game)
- The Dark Knight Returns (1986)
- film adaptation
- Pizza Man (1991 film)
- The Day Reagan Was Shot (2001 film)
- Reagan's War (2002 book)
- The Reagans (2003 film)
- Reagan (2011 documentary)
- The Butler (2013 film)
- Killing Reagan (2015 book)
- Killing Reagan (2016 film)
- Call of Duty: Black Ops Cold War (2020 game)
- The Reagans (2020 miniseries)
- Reagan (2024 film)
- "What would Reagan do?"
- Namesakes and memorials
- U.S. Capitol statue
- USS Ronald Reagan (CVN-76)
- Ronald Reagan Day
- Reagan Day Dinner
- Accolades
- Category