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Agricultural Trade Development and Assistance Act of 1954
Understanding the Agricultural Trade Development and Assistance Act of 1954
Definition & Meaning
The Agricultural Trade Development and Assistance Act of 1954, often referred to as the Act, is a significant piece of U.S. federal legislation that created the Food for Peace program. This program serves as the main channel for U.S. food assistance abroad. Signed into law by President Dwight D. Eisenhower on July 10, 1954, the Act aimed to enhance agricultural exports while providing aid to developing nations. It emphasizes the dual benefits of supporting U.S. farmers and assisting people in need globally.
Table of content
Legal Use & context
This Act is utilized in legal contexts related to international trade, agricultural policy, and humanitarian assistance. It is particularly relevant for organizations involved in food aid, agricultural exports, and development programs. Legal professionals may encounter this Act when dealing with issues of compliance, funding, and policy reform associated with agricultural assistance and trade.
Key legal elements
Real-world examples
Here are a couple of examples of abatement:
For instance, a non-profit organization may utilize the provisions of the Act to receive donated food supplies for disaster relief efforts in a developing country. This assistance can help alleviate hunger and support recovery efforts following a natural disaster.
(hypothetical example) A U.S. agricultural company might engage in concessional sales under the Act, providing grain at reduced prices to a partner country facing food shortages.
Relevant laws & statutes
The Agricultural Trade Development and Assistance Act of 1954 is the primary statute governing U.S. food assistance programs. It was later renamed the Food for Peace Act in 1961, which continues to guide agricultural aid and trade policy.
Comparison with related terms
Term
Definition
Key Differences
Food for Peace
The program established by the Act for international food assistance.
Food for Peace is the operational program, while the Act is the legislative framework.
Foreign Assistance Act
Legislation governing U.S. foreign aid, including military and economic assistance.
The Foreign Assistance Act covers a broader range of aid beyond agricultural commodities.
Common misunderstandings
What to do if this term applies to you
If you are involved in agricultural exports or humanitarian aid, understanding the provisions of the Agricultural Trade Development and Assistance Act is crucial. Consider consulting with a legal professional to ensure compliance with the Act. Additionally, you can explore US Legal Forms for templates related to agricultural contracts and aid agreements, which may help streamline your processes.
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