What is one way that New Deal policies reformed economic institutions affected by the economy?

In 1934, the Reciprocal Tariff Act, outlined by Cordell Hull, granted the president power to negotiate bilateral, reciprocal trade agreements with other countries. The act permitted Franklin D. Roosevelt to liberalize American trade policy around the world, leading in the era of liberal trade policy.

The great depression remains one of the landmark events in America.

It brought about a transformation where the President Franklin D. created the new deal to bring relief, recovery and reform to the beleaguered populace. The President Roosevelt and his new dealers achieved almost mythic status as selfless savior of the economy.

One way that New Deal policies affected the institutions economy was referred to the piece of legislation called the National Industrial Recovery Act. (NIRA), which was specifically designed to limit competition while allowing both prices and wages to rise.