Word: importance
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Dates: during 1950-1959
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Britain wiped out import quotas on all but a handful of U.S. goods that have been barred or restricted for 20 years. Its gesture is expected to whet demand for American-style cocktail dresses and printed skirts, other readymade clothing of new, washable fabrics that are still high-priced in Britain. Novelties such as blue jeans, California apple juice, well-designed U.S. toys, and costume jewelry should also fare well. But Detroit automakers expect no gain, since steep British import duties and sales taxes, added to transport costs, double U.S. price tags. U.S. cars are considered too big, too flary...
France scaled down (from 30% to 27%) import duties on U.S. autos, electric razors, farm machinery. France is giving the U.S. the same reductions it gives its Common Market neighbors. Import quotas on about 200 items ranging from textiles to household appliances were also scrapped, and Pinay promised to junk all remaining import quotas within two years. Foreign-trade experts doubt that this will mean any sizable overall boost in U.S. sales in competition with heavily protected French industry...
...spite of all his efforts, one stubborn economic fact remained: two years of drought had turned Syria from a land that once exported 159 million Syrian pounds worth of grain a year to one that must now import 50 million pounds worth. Some Syrians, completely forgetting that Egypt itself is perennially one of the world's neediest cases, have begun to demand that Cairo do more to help. But the lack of rain in Nasser's northern province was one thing that even efficient Soldier Amer could do very little about...
...IMPORT RECORD of $1.4 billion was set in September, bringing nine-month total to $11.3 billion v. exports of $11.8 billion...
ATOM POWER PLANT for Italy will be partially financed by $34 million Export-Import Bank credit. New facility, largest private industry nuclear plant in Europe (165,000 kw.), will be built by 1964 to serve northern Italy, at total cost of $64 million, using Westinghouse Electric Corp. nuclear equipment...