Word: cartellization
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Dates: during 1930-1939
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...rubbermen created the International Rubber Regulation Committee- a cartel that represents 98% of the world's rubber producers. The I. R. R. C.'s aims are two:1) to establish and maintain a base limit to rubber planting, 2) to fix quarterly quotas on the amount of this rubber that is marketable...
Back to Europe last week-as secretively as they had arrived in the U. S. two weeks before-sailed the Earl of Dudley and a committee representing Europe's Steel Cartel. Though no one admitted it, everybody knew that the Earl and his friends had visited the U. S. in an attempt to get U. S. steel companies to join the cartel or at least to stop undercutting its prices abroad (TIME, Feb. 14). Last week no one in authority would yet admit that anything had happened, but the Earl's speedy departure indicated that an understanding...
...International Steel Cartel and the Steel Export Association of America have decided on common export price levels for the ensuing fiscal, or cartel, year at lower levels than previously in effect. . . . Moreover, export quotas on some dozen steel commodities have been assigned to various member countries. Thus the U. S. has been assigned definite tonnages which it can sell monthly to Brazil, Argentina, Japan, China and other important steel-consuming countries...
Until last year this caused the cartel no great worry because all three non-members exported only a fraction of their production, leaving the cartel in command of an estimated 90% of the export market. With the current recession in the U. S., however, and the consequent falling off of domestic steel orders, certain U. S. makers have been dumping steel abroad, undercutting cartel prices and taking advantage of the steel hunger of nations preparing for war. For the first eleven months of 1937 U. S. iron & steel exports were 36% above 1929, 192% above 1936. Rolled steel exports amounted...
Last year, however, the big U. S. steel companies are supposed to have made a "gentlemen's agreement" with the cartel not to undersell them abroad. Last week when the Earl of Dudley arrived it was generally assumed that if he could not wangle actual U. S. participation in the cartel he would try to get the big steel concerns to force the little ones now engaged in foreign dumping to join in the "gentlemen's agreement." Last week the only fact that emerged from a great cloud of secrecy was that the Earl would do his negotiating...