Trade Expansion Program Act Law and Legal Definition

The Trade Expansion Program Act (Act) is a federal legislation which is codified in 19 USCS prec § 1801. The Act provides for mutual trade benefits between the U.S. and foreign markets. The Act mainly encourages cooperation with western European nations. The Act provides for the following purposes:

1.Stimulating the economic growth of the U.S.;

2. Maintaining foreign markets for the products of the U.S. agriculture, industry, mining, and commerce ;

3.Strengthening economic relations with foreign countries through the development of open and nondiscriminatory trading in the free world; and

4.Preventing communist economic penetration.