________________ replaced the product-by-product approach of the Trade agreements Act with across-the-board reduction power.

Question

Quizplus · Accepted Answer

The Trade Expansion Act of 1962 and the Kennedy Round were significant because they moved away from negotiating trade agreements on a product-by-product basis, instead granting the authority for across-the-board tariff reductions. This approach allowed for more comprehensive and efficient trade negotiations.

________________ Replaced the Product-By-Product Approach of the Trade Agreements Act