By John Kunkel
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Extra info for America's Trade Policy Towards Japan: Demanding Results (Routledge Advances in International Political Economy, 11)
Under the RTAA, the president was authorised to negotiate tariff reductions of up to 50 per cent within a specified period of three years. Presidential authority to negotiate and implement reciprocal tariff reductions with other nations was renewed in 1937, 1940, 1943 and 1945. After the war, the US executive took the lead in multilateralising its trade negotiating objectives through the GATT (Dam 1970). 1 Six rounds of GATT negotiations were completed by the end of the 1960s. Especially important were the first, the Geneva Round of 1947, and the last, the Kennedy Round (1963–7).
As Evans (1995: 7) notes: These new theoretical approaches are saying that, even in principle, formal theoretical models cannot provide determinative answers without knowing something about individual sequences of events. There has to be an element of path dependence, which is to say history. Using historical-inductive approaches, a number of scholars have explored the role of economic crises as a source of regime de-legitimation and long-lasting policy reorientation (Olson 1982; Gourevitch 1986; Nelson 1990; Haggard and Kaufman 1992; Williamson and Haggard 1994).
Under the Constitution, Congress has exclusive power to ‘regulate commerce with foreign nations’. While it has sole authority to negotiate agreements with foreign countries, the executive has no direct trade policy powers. As Destler (1995: 14) notes: ‘The Constitution grants the president no trade-specific authority whatsoever. Thus, in no sphere of government policy can the primacy of the legislative branch be clearer: Congress reigns supreme on trade, unless and until it decides otherwise’. And, as Cohen et al.
America's Trade Policy Towards Japan: Demanding Results (Routledge Advances in International Political Economy, 11) by John Kunkel