Word: hawley
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Dates: during 1980-1989
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...with six members of last year's championship crew--including coxswain Devin Mahoney, Neil Oleson in bow, Dan Grout at two, Rich Kennelly at five, Curt Pieckenhagen at six, and Andrew Hawley at seven--all returning to the varsity, the comparison is not without some interest...
...Blough, 81, scholarly, reserved chairman from 1955 to 1969 of U.S. Steel, then the nation's fourth-largest company in terms of assets and the flagship of U.S. industry, who in 1962 had the misfortune to tangle with President John F. Kennedy over a proposed steel-price rise; in Hawley, Pa. An infuriated Kennedy called out several federal departments and agencies, including the antitrust division and the FBI, to investigate U.S. Steel; Blough had to back down from the price boost after other steel companies declined to follow his firm's lead...
Though some legislators today might be reluctant to make such a promise, no one in Congress is seriously proposing anything as drastic as Smoot-Hawley. Still, the pro-tariff mania that swept Washington 55 years ago remains a danger. "What we are afraid of," says S. Bruce Smart, Under Secretary of Commerce for International Trade, "is that people are so emotional that they will do something that they know is foolish, just to do something...
...repeating dire warnings that U.S. protectionism could once again provoke foreign retaliation against what remains of American exports (which is plenty: the U.S. is still the world's biggest exporter by 27% over runner-up West Germany). Such retaliation is what happened after Congress passed the disastrous Smoot-Hawley tariff act in 1930 (see box). Just enough Senators and Representatives will change their minds on a revote to sustain the veto. Then will follow a confused struggle between legislators fearful of a trade war yet determined to force Reagan to do more to promote exports and curtail imports...
Such defensiveness would have seemed unlikely a few weeks ago. Not since Smoot-Hawley days had Washington witnessed such an explosion of demand to limit imports as occurred in August and early September. Fretted Sir Roy Denman, Ambassador of the European Community to Washington: "We have seen protectionist sentiment before, but never anything like this...