Commission on Foreign Economic Policy

Commission on Foreign Economic Policy

The U.S. President's Commission on Foreign Economic Policy (the Randall Commission) was established on August 7, 1953 by Public Law 215 entitled "Trade Agreements Extension of 1953"[1] which extended the Trade Agreements Act of 1951 for one year. On April 7, 1953 President Dwight D. Eisenhower requested that Congress extend for one year the Reciprocal Trade Agreements Act, a measure which had originally been passed in 1934. Under this act and its subsequent extensions, the President was authorized to negotiate agreements with other countries for tariff reduction. In his message of April 7, the President called for a commission to study U.S. foreign economic policy in general. Section 301 of this Act provided for a bipartisan commission which consisted of seventeen members: seven appointed by the President, five appointed from the Senate by the Vice President, and five from the United States House of Representatives by the Speaker. President Eisenhower appointed Clarence B. Randall, Chairman of the Board of Inland Steel Company, as Chairman of the Commission. The Commission was directed to examine and report on the subjects of international trade, foreign economic policy, and the trade aspects of national security and total foreign policy. It was to recommend appropriate policies, measures, and practices, based on its findings, in a report to Congress.

The Commission held an organizational meeting with President Eisenhower on September 22, 1953 and hearings began October 2, continuing through November 19, including sessions in Paris, France, November 9-12. Most of the hearings were closed except for public hearings on October 28-29 when representatives of national associations, trade unions, etc., presented their views on foreign trade. In order to limit the number of witnesses before the Commission, Randall sent out 15,000 letters asking for written statements from individual industries, labor unions, etc. He received of 300 statements in response to these letters.

The Commission staff, composed of specialists on various aspects of foreign economic policy, digested the written testimony and information provided by the Department of State, Department of Agriculture, and other agencies, in preparing 800 pages of staff papers upon which the Commission Report was based. This report was divided into twelve sections, such as Dollar Problem, Foreign Aid, Tariff and Trade, East-West Trade, etc. and was presented to Congress on January 23, 1954.

This Commission was dissolved on April 23, 1954, three months after it presented its report to Congress.

References

  1. ^ Turney, Elaine C. Prange Turney and Cynthia Clark Northrup (2003). "Encyclopedia of Tariffs and Trade in U.S. History, Vol. I." Greenwood Press. p. 85.

External links


Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • Council on Foreign Economic Policy — The U.S. Council on Foreign Economic Policy (CFEP) was a high level organization created by President Dwight D. Eisenhower in December 1954 to coordinate the development of the foreign economic policy of the United States. On July 12, 1954 the… …   Wikipedia

  • Economic policy of Barack Obama — Main article: Political positions of Barack Obama Barack Obama s current economic advisors are Austan Goolsbee of the University of Chicago and Jeffrey Liebman of Harvard University.[1] In 2006, Obama wrote: We should be asking ourselves what mix …   Wikipedia

  • Malaysian New Economic Policy — Under the Malaysian New Economic Policy, Bumiputras are given discounts on real estate. History of Malaysia …   Wikipedia

  • Board on Science, Technology, and Economic Policy — The United States National Academy of Sciences Board on Science, Technology, and Economic Policy (STEP) is a board of the United States National Academy of Sciences. The mandate of the Board is to integrate understanding of scientific,… …   Wikipedia

  • Foreign relations of Mexico — Mexico This article is part of the series: Politics and government of Mexico …   Wikipedia

  • Foreign internal defense — (FID) is used by a number of Western militaries, explicitly by the United States but sharing ideas with countries including France and the United Kingdom, to describe an approach to combating actual or threatened insurgency in a foreign state… …   Wikipedia

  • Commission on Elections (Philippines) — Commission on Elections Komisyon ng Halalan Established: August 22, 1940 Chairman: Atty. Sixto Brillantes Website …   Wikipedia

  • Economic Affairs — ▪ 2006 Introduction In 2005 rising U.S. deficits, tight monetary policies, and higher oil prices triggered by hurricane damage in the Gulf of Mexico were moderating influences on the world economy and on U.S. stock markets, but some other… …   Universalium

  • Foreign trade of the Soviet Union — Soviet foreign trade played only a minor role in the Soviet economy. In 1985, for example, exports and imports each accounted for only 4 percent of the Soviet gross national product. The Soviet Union maintained this low level because it could… …   Wikipedia

  • Economic history of the People's Republic of China — Throughout most of the nineteenth and twentieth centuries, as during much of earlier Chinese history, the economy was barely able to meet the basic needs of the country s huge population the largest in the world. In normal years the economy… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”