Yeutter Institute of International Trade and Finance


Date of this Version


Document Type



U.S. Secretary of Agriculture


To fully understand U.S. trade policy today, one must also understand its process of evolution. ~n particular, one must comprehend our trade policy of the late 1960's and early 1970 1 s, culminating in passage of the Trade Act of 1974. Putting it another way, a Brazilian businessman will be able to predict with much more accuracy what the U.S. will or will not do on trade issues in the coming years if he knows what the U.S. did or did not do on trade issues during the past few years, and why. Our trade policy of today is very much conditioned by the legislative intent of the Trade Act of 1974 which, in turn, is a function of what was done in earlier years and, more importantly, what was not done in earlier years.