Word: imported
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...cushion the impact of change, the agreement calls for a system of "variable levies" which, at the end of an eight-year transitional period, will replace all existing controls. Import and export prices for farm produce will be set for each country by the Common Market's central executive, which will have the power to set "target prices'' (resembling U.S. support prices) for commodities and buy them for storage when high production forces down the market price. Ultimately, by gradual adjustment of target prices between nations, a loaf of white bread should cost no more in Bonn...
...Rome treaty called for similar stabilization of agricultural markets, but in this field the six nations proved far less flexible. After centuries of striving for national self-sufficiency in food production, each country had its own weird system of import restrictions, government subsidies, artificially maintained price levels to protect its farmers, and these were far harder to change than industrial tariff walls...
Understandably eager for freer trade are the executives of the many U.S. industries already selling successfully overseas. But less predictably, freer trade has the endorsement, according to soundings taken by TIME correspondents, of many businessmen whose companies are currently suffering from import competition but who are confident they can counterattack effectively if foreign tariff barriers are dropped. Among the generally pro-free trade industries...
Arthur Smithies, Nathaniel Ropes Professor of Political Economy, added another reason for low tariffs, saying that the "development of African and Latin American countries is highly dependent upon low tariffs both in Western Europe and the United States." Agreements to lower import duties with the Common Market nations would soon extend to Africa and Latin America via "our most favored nation" tariff policy...
Haberler emphasized that Kennedy has a right to expect large concessions from the Common Market. The import duties of the Common Market are generally higher than the United States' tariff rates...