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Trade Act

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The Trade Act of 1974 was passed on January 3, 1975, to grant the President more power in trade agreements and tariffs. The act created fast track authority for the President to negotiate trade agreements with Congress approving or disapproving but not amending or filibustering. The authority was set to expire in 1980, extended until 1993 for the Uruguay Round, and further extended until 1994, and renewed in 2002 and again in 2012.learn more on wikipedia