Word: exporters
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...mind. The bankers can't even follow." Adela spun sugarplum stories of wonderful "deals" through which she could help people multiply their money by buying land in Spain and selling it for huge markups, or by shipping Japanese cars to Indonesia, or by getting into the import-export trade. And a lot of folks, credulous and captivated, begged to get in on the action...
...bill's critics, notably many corporate executives, see it as a monster in the making. Any company that needs government approval to raise or lower a price, change an interstate route, get an export license or win permission to market a drug, could be subject to ACA'S watchful eye. So too would companies that have to meet Government safety standards for their products. Complains General Foods Chairman James Ferguson, an outspoken critic: "The cost of virtually nonstop litigation would increase enormously the expense of running any business and the price of goods to the consumer, while...
...fool's paradise; other nations casually resort to a variety of ruses to keep out unwanted goods. No fewer than 850 nontariff barriers have been uncovered that do not necessarily break the letter of the law of free trade but certainly tax its spirit. Foreign governments may subsidize export industries by waiving taxes or granting easy bank loans. They may impose cumbersome safety standards, customs procedures and packing and labeling regulations. Japan, for example, insists on its own chemical analysis of imported perfumes and cosmetics; the delays in completing the tests discourage many foreign companies from seeking sales...
Fukuda is aware of the need to make concessions. As he told Stewart, color-television sets, steel, automobiles and ships "account for a major portion of our export trade, so much so that we are advising [the manufacturers] to avoid undue concentration [on specific markets]." Fukuda also warned against restrictive measures like last week's recommendation by the U.S. International Trade Commission that tariffs on imported television sets be increased from 5% to 25% over the next two years (see ECONOMY & BUSINESS...
...record $4.21 per Ib.-the coffee-growing regions of Central and South America are enjoying a new-found prosperity. Growers in Brazil, for example, were getting $2.33 per Ib. last week for prime coffee beans, four times last year's price. Brazilian officials predict that export earnings from coffee will reach $4.3 billion this year, enough to take the sting out of the country's ruinous bill for imported...