Word: benzenoid
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...constructing import hurdles. Mandatory or "voluntary" quotas limit imports of steel, oil, cotton textiles, meat, sugar and dairy products. "Buy American" legislation bars the 'Government from purchasing foreign goods unless the price is 6% below that of comparable U.S. products. The "American Selling Price" system permits duties on benzenoid chemicals used in dyes and vitamins to be set not on the price of the import but on the cost of making the same chemicals in the U.S. Europeans complain that overly severe American health rules keep out many farm products...
Second Try. As the Johnson Administration vainly proposed last year, Nixon asked Congress to end one venerable U.S. barrier to trade that is regularly cited by foreign governments as justification for their own barriers. That is the "American selling price," which allows duties on benzenoid chemicals used in dyes and vitamins to be set not on the price of the import but on the cost of making the same chemical...
...make U.S. acceptance dubious. The offer is conditional upon U.S. abstention from any new restrictions on imports or subsidies for exports. And several of the 16 countries insist that Congress must also repeal the so-called American Selling Price system for fixing tariffs on such items as benzenoid chemicals, sneakers, canned clams and woolen knit gloves...
...against 25% to 30% for the Common Market. In the second stage, both sets of tariffs, with a few exceptions, would drop at least to half their present level. This phase, however, will go into effect only if Congress repeals the controversial system by which duties on organic benzenoid chemicals-notably dyes, sulfa drugs, plastics and pesticides-are based on their American selling price, which results in tariffs as high as 172%. If Congress does so, the Common Market and Austria agreed to trim the carefully contrived taxes which help to keep large-horsepower U.S. autos out of Europe...
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