Word: asp
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Dates: during 1960-1969
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...protests of powerful industries which feel the lower tariffs will bring disastrously stiff competition. The strongest reaction to the Round has come from the thriving chemical industry. At the negotiations, the American team made a tentative agreement, subject to approval of Congress, to eliminate the American Selling Price (ASP) method of evaluating certain chemicals (mostly dyes and pigments). The chemical industry considers this a life-and-death matter and is feverishly lobbying to defeat the legislation to repeal the ASP...
...ASP system uses the American price to evaluate chemicals rather than the importing company's price. The American price is usually higher, thereby artificially raising the value of the import on which the tariff is placed. It was a defensive measure used against Germany in the First World War, and once established it never relented. Nations at the Kennedy Round were, understandably, insistent upon the abolition of this discriminatory practice. Because they did not have specific authority under the 1962 Trade Act to abolish it, the U.S. negotiators agreed tentatively to seek abolition, in return for more concessions from...
...from leading Washington and New York law firms, former Under Secretary of State George Ball, and Senator Russell B. Long, who is chairman of the Senate Finance Committee. They showed their power a year ago, when it was first learned that the U.S. team was considering bargaining on the ASP at the Common Market's insistence. The Senate promptly adopted a resolution urging the President to instruct the U.S. negotiators to agree only to provisions under the 1962 Trade Expansion Act, thereby aiming directly at the chemical issue...
...ASP. But the comparison between Lindsay and Kennedy is misleading as well as invidious. Today, at least, Lindsay does not possess the late President's polish and poise, his gleaming wit and easy public charm. A more fundamental difference between the two men is that John Lindsay is comparatively a self-made man. He was not raised in a family that was grooming a son to be President, nor was he raised in multimillion-dollar opulence by a father filled with angry ambition and the sting of Boston's social rebuffs...
John Lindsay's parents were descended from pure-blooded WASPs (White Anglo-Saxon Protestants)-though, as Lindsay is fond of pointing out, "If you are really hip, the correct term is ASP; all Anglo-Saxons are white, so why be redundant?" His father, George Nelson Lindsay, was the son of a Scotch-Irish brickmaker from the Isle of Wight who went broke in 1884 and emigrated to New York. John Lindsay'? mother, Eleanor Vliet Lindsay, was the daughter of a Dutch-descended New Jersey carpentry contractor whose ancestors dated back to colonial times...