Tariff Act

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Tariff Act

United States [1922]

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termination of most-favoured-nation trading clause

In international trade: The most-favoured-nation clause
…until the passage of the Tariff Act of 1922, which terminated the practice. (The Trade Reform Bill of 1974, however, in effect restored to the U.S. president the authority to designate preferential tariff treatment, subject to approval by Congress.)
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