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been toward the establishment of a regulated but less-restrictive system of international trade than had existed during the period of economic nationalism which followed the First World War. The Trade Expansion Act of 19623 and the resultant Kennedy Round4 of tariff negotiations, under the auspices of the General Agreement on Tariffs and Trade,5 were significant advances toward a freer trade system. The Trade Act of 1971, 6 a bill now pending in Congress, is, however, the

The Trade Act of 1971: A Fundamental Change in United States Foreign Trade Policy