What was one significant result of the Trade Expansion Act of 1962?

The Trade Expansion Act of 1962 was a landmark piece of legislation that significantly impacted U.S. trade policy. One of its most notable results was the implementation of tariff cuts, which averaged about 35% on goods traded with European nations. This was a strategic move to foster economic relations and increase trade volume with European countries, thereby promoting economic recovery and integration after World War II. The act aimed to reduce trade barriers to stimulate the economy, enhance U.S. exports, and strengthen alliances, particularly in light of the growing competition from other global economies.

In contrast, options that mention raising tariffs or limiting trade with specific nations do not align with the fundamental objectives of the Trade Expansion Act, which sought to liberalize trade rather than restrict it. Additionally, while the act encouraged free trade negotiations, the establishment of agreements with Asian countries was not a direct outcome of this specific act. The focus on Europe was paramount during this period, making the significant tariff cuts to European goods the most consequential aspect of the Trade Expansion Act.