AMERICAN TRADE AGREEMENTS

Press, Volume LXXXIV, Issue 25517, 10 June 1948, Page 5

AMERICAN TRADE AGREEMENTS

EXTENSION OF ACT SENATE COMMITTEE’S PROPOSALS WASHINGTON, June 8. The United States Senate’s Finance Committee approved to-day an extcnS a lO P the For eign Trade Agreements Aci for one year, with a less drastic revision than that approved ’recently oythe House of Representatives. The Senate committee adopted a compromise amendment submitted toy Senator A. H. Vandenberg, under which the President must notify Congress within 30 days if he ignores the recommendation of the Tariff Commission in making trade agreements. The committee rejected a provision, approved by the House of Representatives which would have allowed Congress to veto tariff rates approved by Die President in disregard of the Tariff Commission’s recommendations. The present Trade Agreement Act is due to expire on Saturday. The Administration requested a three years’ extension of tne act without any change. The bill passed by the Republican majority in the House of Representatives would extend the act for one year, but would restrict the Presidents tariff-making powers. The Senate is to vote on the amended bill to-morrow, after which House and Senate conferences will be required before legislation acceptable to both chambers can be submitted for Mr Truman’s signature.