Classifier Instance:

Anchor text: Harry S. Truman
Target Entity: Harry_S\u002e_Truman
Preceding Context: The Smoot-Hawley Tariff was a reflection of Republican Party policy. In his 1932 election campaign platform Franklin Delano Roosevelt pledged to lower tariffs. He and the now-Democratic Congress did so in the Reciprocal Trade Agreements Act of 1934. As the name suggests, this allowed the President to negotiate tariff reductions on a bilateral basis, and also treated such tariff agreements as regular legislation, requiring a majority, rather than as a treaty that required a two-third vote. This set one of the core components of the trade negotiating framework that developed after World War II. The tit-for-tat responses of other countries were understood to have contributed to a sharp reduction of trade in the 1930s. After World War II this undergirded a push towards multi-lateral trading agreements that would prevent a similar situation from unfolding. While the Bretton Woods Agreement of 1944 focused on foreign exchange and did not directly address tariffs, those involved wanted a similar framework for international trade. President
Succeeding Context: launched this process in December 1945 with negotiations for the creation of the International Trade Organization (ITO). As it happened, separate negotiations on the General Agreement on Tariffs and Trade (GATT) moved more quickly, with an agreement signed in October 1947; in the end, the US never signed the ITO agreement. Adding a multilateral "most-favored-nation" component to that of reciprocity, the GATT served as a framework for the gradual reduction of tariffs over the subsequent half century.
Paragraph Title: End of the tariffs
Source Page: Smoot–Hawley Tariff Act

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