Word: importance
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Dates: during 1960-1969
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Trouble is, that appetite has led many U.S. businessmen to demand protection in turn. Justifiably or not, Congress this year has been deluged with bills to put import quotas or similar nontariff barriers on steel, textiles, footwear and dozens of other products. The temptation to erect trade barriers is seductive. For somehow, the U.S. must end or at least substantially reduce its persistent balance of payments deficit; otherwise the dollar may face the same pressures as the franc and the devalued pound...
Decision -- what flavor ice cream cone?: Constantly you are asked to make decisions of seemingly little import which turn out to be the most entire life. Vannila ice cream, as it happens, you can get at the corner spa near where you life, so you remain a homebody and eventually go to Harvard. Chocolate ice cream is only available at the Dairy Queen down next to the Sunoco Station; had you eaten there, you would have fallen in with some people all of whom later worked in gas stations...
...Pull from Inflation. The current problem lies primarily in the growing U.S. appetite for foreign products. Total imports have climbed 22% this year, while exports have grown only 9%. About one-sixth, or $1 billion, of the import surge was caused by U.S. labor troubles. Copper imports, for example, doubled to $600 million during the first half of this year as a result of a 37-week miners' strike. The threat of an August steel strike brought a 59% jump in iron and steel imports. Most of the blame for increased imports, however, can be placed on the seemingly insaliable...
...many signs point to a return to protectionism. Two dozen U.S. industries are pressing for higher tariffs or import quotas on everything from shoes to glass, from steel to electronic components. Most such efforts have been rebuffed, but last month President Johnson signed a bill that more than tripled the import duty on various blends of woolens. Italy, which stands to lose $15 million in trade, is considering retaliation against U.S. exports. Other countries, of course, can be expected to do the same if tariffs on their exports to the U.S. are raised...
Barely a month after the launching of The First Circle (TIME cover, Sept. 27), Aleksandr Solzhenitsyn's Cancer Ward has been published in an English translation. As a special kind of literary import, it stands partially obscured by the excess political baggage that has accompanied it. The kinds of labels inevitably suggested by the advance publicity are gross and distracting: savage expose of Stalinism; revealing political microcosm; old cold-war propaganda. The reader is thus challenged to slip past the luggage and the labels into the heart of the book...