Word: imported
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...stories. "The Egyptians talk mostly about the October War, and we talk about the Six-Day War," noted an Israeli wryly. When somebody raised the question of what kind of work old soldiers should go into after they retire, an Israeli and an Egyptian shouted almost simultaneously, "Export-import!" and the group broke into laughter...
...Inflation. When the dollar's value drops, the price of French wines, Japanese cameras and other foreign goods imported into the U.S. goes up. For example, the average cost of all Volkswagen models sold in the U.S. last year climbed almost 14%. Computer models of the economy indicate that at present levels increased prices for foreign goods directly add only .2 to .3 percentage points to the U.S. inflation rate. But some economists believe that the indirect impact is greater. Reason: if import prices rise, American companies can increase the price of domestically produced goods that compete against imports...
Carter's decisions pleased people in the new gateway cities. In Atlanta, John Wilson, president of Multimart, an import-export company, declared that the order "puts the small and medium-sized business directly on the line to Europe." Officials in Tampa, New Orleans and Kansas City predict a big increase in tourism by foreigners...
There is some question whether even these increases serve the industry's own best interests. The Administration is now engaged in setting "reference" (minimum) prices for imported steel, which has captured 20% of the American market in recent months. Any foreign metal sold below the reference prices would automatically be subject to a heavy tariff. The reference prices probably will be pegged to the cost of producing and transporting Japanese steel. The aim is to stop foreign "dumping" of steel (that is, selling of imported metal below cost) and to bring import prices close to the U.S. price level...
...Truck sales are setting records, indicating that buyers are still in a spending mood. German and Japanese makers are raising the prices of the cars they sell in the U.S. by 3% to 4%, reflecting the rise of their nations' currencies against the dollar and promising less stiff import competition to Detroit. More important, the domestic industry has come up with some hot new or redesigned models. GM has heavily scored with a new four-door Chevette. Ford's Fairmont and Zephyr, which have replaced the Maverick and the Comet in the compact class, are moving...