Word: lower
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Dates: during 1960-1969
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...sweet as those talked about over the bargaining table. A mistake? Not at all. The wool-product rate, the U.S. reminded them, was tied to the rate for raw wool -and the U.S. agreement to slash raw-wool tariffs was contingent on wool-producing Australia's agreement to lower its customs barriers against U.S. tobacco. The tobacco deal, as it turned out, went up in smoke-and with it, the U.S. concessions on Common Market wool products...
Housing has since recovered part way from its lonely depression, thanks to lower interest rates and a renewed flow of mortgage money. Lately, however, mortgage rates have rebounded more than two-thirds of the way back to their 1966 heights. If the rise in interest rates continues, as many analysts expect, it can only siphon funds away from mortgages again. Warns John G. Heimann, vice president of the Manhattan investment-banking firm of E.M. Warburg and mortgage consultant to Housing Secretary Robert C. Weaver: "The fragmented, highly specialized mortgage system, responsible to so many agencies, has fallen behind, never...
...went. Yielding to Common Market cries about a raw deal on a number of items totaling $50 million in annual trade, the U.S. further trimmed its rates on semifinished aluminum products, tomato paste, small tobacco items and eyeglass frames, got lower tariffs for U.S.-made TV tubes in return. The Danes' dander rose over the tariff on live beef, which is an important Danish export. In retaliation, Danish negotiators tacked "reservations" onto their commitment to cut passenger-car tariffs 50%, will likely stand fast on a token 20% reduction...
When the annual step-by-step reductions begin next Jan. 1, U.S. consumers stand to pay lower prices for many imports-if inflation and middlemen do not soak up the tariff savings. The wholesale price of a $300 Japanese motorcycle will decline to $297 in 1968, finally level out at $286 in 1972. Other reductions will be substantial. Tariffs will fall from 1210 to 60 a gallon for beer, from $1.02 to 510 a gallon for Irish and Scotch whisky. Duties will come down 50% or more on such items as silk scarves (to 16%), diamonds over 1 carat...
...middle-class system chooses not to ignore the Sawneys. Next door live the Jacksons, the clean little family who have just arrived in the lower middle class and who are always irritating the Sawneys. The bobbies are always poking around, and the building inspector keeps checking up on the march of decay that is sweeping over the Sawney's house. The Sawneys grunt, roll over, and start to rebel. In a superb gesture of contempt, old Sailor Sawney, the clan's patriarch, pisses in the Jackson's geranium pot. Before they know it, the police, the neighbors, the Welfare State...