ASYCUDA

Glossary of Customs Terms

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Hawley-Smoot Tariff Act Of 1930	Refer to: Tariff Act of 1930,
Section 332 Of The Tariff Act Of 1930	Section 332 of the Tariff Act of 1930 provides the basic statutory authority for the U.S. International Trade Commission to conduct general fact-finding investigations and issue reports on any matter relating to trade. Such reports do not contain recommendations unless they have been specifically requested, and do not provide a legal basis for other trade actions by the president. Investigations conducted by the USITC under section 332 are instituted in response to a request from the Committee on Ways and Means of the U.S. House of Representatives, the Committee on Finance of the U.S. Senate, either branch of the Congress, the president, the U.S. trade representative under authority delegated by the president, or upon the Commission's own motion. See also: Tariff Act of 1930,
Smoot-Hawley Tariff Act Of 1930	Refer to: Tariff Act of 1930,
Tariff Act Of 1930	Protectionist U.S. trade legislation that raised tariff rates on most articles imported by the United States, triggering comparable tariff increases by U.S. trading partners. The Tariff Act of 1930 is also known as the Smoot-Hawley Tariff, after the two legislators who sponsored it, and sometimes as the Grundy Tariff, after Joseph Grundy, president of the Pennsylvania Manufacturers Association, who was the chief lobbyist for it. See also: Beggar-Thy-Neighbor Policy, Column 2 Rates, Countervailing Duties, Imports, Protectionism, Reciprocity, Retaliation, Tariff, Trade Agreements Act of 1934,