Trade Expansion Act

Under the Trade Expansion Act of 1962 (Pub.L. 87-794, 76 Stat. 872, enacted October 11, 1962, 19 U.S.C. § 1801), the United States Congress granted the White House unprecedented authority to negotiate tariff reductions of up to 50%. It paved the way for the Kennedy Round of General Agreement on Tariffs and Trade ("GATT") negotiations, concluding on June 30, 1967 — the last day before expiration of the Act.