McGuire-Keogh Fair Trade Enabling Act (1952)

McGuire-Keogh Fair Trade Enabling Act (1952)

The McGuire-Keogh Fair Trade Enabling Act of 1952 was a significant piece of legislation aimed at promoting fair trade practices in the United States. The act was named after its sponsors, Senators Howard McGuire and John Keogh, who were strong proponents of fair trade policies.

The act sought to protect small businesses and consumers from unfair competition by allowing manufacturers to set minimum prices for their products. This ensured that all retailers selling the products would do so at a fair and consistent price, preventing price wars and other harmful practices that could harm smaller businesses.

One of the key provisions of the act was the establishment of the Fair Trade Commission, which was tasked with enforcing the fair trade regulations and ensuring compliance among manufacturers and retailers. The commission had the authority to investigate and penalize any violations of the act, helping to create a level playing field for all businesses.

The McGuire-Keogh Fair Trade Enabling Act of 1952 was a landmark piece of legislation that helped to promote fair trade practices and protect consumers and small businesses from unfair competition. It set the stage for future fair trade laws and regulations that continue to shape the business landscape today.

Examples: Setting minimum prices for products to prevent undercutting by retailers Establishing the Fair Trade Commission to enforce fair trade regulations

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