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...Vassa coffee shop was the start of a new and radically different EOKA attack on British rule in Cyprus. Colonel George Grivas. who heads EOKA, issued a leaflet announcing that he was "raising the banner of passive resistance," peremptorily ordered a boycott of British football pools and such imported British goods as cigarettes, shoes, whisky, soft drinks and sweets. Proclaimed Grivas: "Britain is sucking away the sweat of the Cypriot people. She digs her hands into their pockets and takes their money in the form of import duties, taxes, and fines...

Author: /time Magazine | Title: CYPRUS: New Wrinkle | 3/17/1958 | See Source »

European nations, well aware of the old saw that when the U.S. sneezes the world catches pneumonia, have been anxiously taking their economic temperatures. While inflation has been checked in most countries, there have been only a few scattered sniffles so far. One big reason: U.S. imports have remained high, chiefly because of an increasing demand for small European cars, while exports have dropped. If the U.S. recession ends this year, European businessmen feel that they will not be affected, just as they were not affected by the 1953-54 drop. Items: ¶Britain's exports are booming (cars...

Author: /time Magazine | Title: BUSINESS ABROAD: Still Cheerful | 3/10/1958 | See Source »

...automobile industry. Added Agriculture. Secretary Ezra Taft Benson: in 1957 the U.S. exported $4.7 billion worth of farm products, about one-tenth of the total output. In order to protect the nation's vast and vital export trade, argued Weeks and other Administration witnesses, the U.S. must import goods so that foreign countries can earn dollars to buy U.S. products...

Author: /time Magazine | Title: THE ADMINISTRATION: Another Kind of Protection | 3/3/1958 | See Source »

...quiet them, the Japanese last October promised to cut back future imports to the 1956 total. It was too late. Before the Tariff Commission. U.S. makers of stainless steel flatware pointed to the fact that 558 workers in their own small industry of 21 companies had been put out of jobs, though total employment of 2,522 was still above what it was before the import upsurge. The U.S. makers wanted stainless-steel imports from all countries slashed to 10% of the current total. Instead, the Tariff Commission recommended duty boosts to President Eisenhower that would raise Tsubame prices...

Author: /time Magazine | Title: Business: It May Bleed a Japanese Town to Death | 3/3/1958 | See Source »

...heating oil are still far above last year's level; gasoline stocks are at an alltime high. Refiners in Oklahoma and Texas have been forced to cut crude prices, and pressure is building up for a further slash in Oklahoma allowables. Domestic producers blame the situation on heavy imports, but importers are complaining that their quotas under the Government's voluntary-import quota program are not high enough to enable them to operate efficiently. While imports of petroleum and oil products reached a record high of 1,897,500 bbl. at latest report, the Government did not consider...

Author: /time Magazine | Title: OIL: Texas Cut | 3/3/1958 | See Source »

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