Word: protectionists
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Dates: during 1960-1969
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Commodity prices are not the only problem, says the bank. Major world importers of the hemisphere's commodities -the U.S. (lead, zinc, petroleum) and Western Europe (sugar, beef) in particular-are lending a more sympathetic ear to the protectionist pleas of their own producers, establishing quotas or tightening tariff barriers to favor agriculture and mining at home. The Latin Americans themselves further hamper things by placing restrictive measures on exports in the misguided notion that they are encouraging local processors and manufacturers. Brazil sometimes sets quotas on cotton and sugar exports; Uruguay imposes a 20% surtax on export wool...
Paradoxically, the attack on freer trade comes at a time when protectionist sentiment in the business community seems to be declining. Dun's Review, querying 260 corporation presidents, reported that nearly 60% of them firmly oppose tariffs. But protectionists wield increasing political influence. Southern Congressmen who used to be major advocates of free trade have become increasingly protectionist. The cause: the once agrarian South is now more interested in building a tariff shelter over its burgeoning industries than in finding overseas markets for its cotton...
...that a Canadian periodical press given to a narrow, bigoted nationalism would not be worth salvation." But in its proposals to end the "unfair" threat from the U.S. periodicals that comprise 75% of the magazines Canada reads, the Commission made recommendations that the Winnipeg Free Press described as "discriminatory, protectionist and narrowly nationalistic." Items...
...stand of the newly protectionist unions is put simply and forcefully by Amalgamated Clothing Workers President Jacob Potofsky, an oldtime free trader himself until recently: "Do we have to stand by idly while our jobs are destroyed? Do our cutters have to continue to cut fabrics made in Japan?" Potofsky's answer: a resounding "No." The clothing workers voted to take direct action against imported goods, and next month the A.C.W. Executive Board plans to pass on an order to their members not to cut any Japanese-made fabrics received by a manufacturer after...
...face of the rising protectionist cry, President Kennedy last week gave his implicit endorsement to a new solution. He ordered release of the summary of a report being prepared by the Senate Committee on Interstate and Foreign Commerce which argues that "remedies other than import restrictions should be available" in the form of "adjustment assistance." (The Nation-Wide Committee on Import-Export Policy's protectionist members promptly denounced the plan.) Under the plan, industries would be required to prove that imports-and not inefficiency-were the specific cause for falling sales and employment. Where the need was real...