Word: protectionists
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Dates: during 1960-1969
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...volume when the roar of U.S. assembly lines slackens a bit. The current business slump is no exception. And now the chorus has swelled with the addition of some new voices: labor unions, long among the staunchest supporters of freer trade. For the first time, when the conservative, protectionist Nation-Wide Committee on Import-Export Policy met last week in Washington, some 20 labor unions were represented. Breaking away from basic A.F.L.-C.I.O. policy, which remains free trade, the unions joined the committee's trade-association membership in recommending legislation to the new Congress to encourage higher tariffs...
...finally issued, the President's directive had a desperate tone about it, with its "buy American" restrictions running counter to the longstanding Administration goal of freer world trade. The pinchy, protectionist mood of the directive made it plain that the balance-of-payments deficit is one of the gravest problems facing the U.S. and its new President. It would be a body blow to the free world if the U.S. tried to solve the problem by slashing foreign aid or by retreating to protectionism after a decade of heartening progress toward freer trade. To avoid those paths...
Chapman's protectionist plea would find ready support from a small but growing number of U.S. producers pinched by foreign competition. Manufacturers of typewriters, fishing tackle, brass plumbing and floor tile, along with shrimp fishermen and horseradish-root growers, are asking the Government to check foreign competition. Such successful Japanese imports as transistor radios, umbrellas and chinaware are rising. So are imports of scissors and shears from Italy and West Germany, leather gloves from France and fish meal (for fertilizer) from Canada and Peru...
Amid the rise in protectionist sentiment, the U.S. is actually exporting more this year than last, selling far more overseas than it is buying. At the end of last year the surplus of exports over imports was down to $1.1 billion, a postwar low. Last week the Commerce Department reported that the surplus was on the rise again. February exports rose slightly over January's, to $1,576,100,000. February imports rose to $1,287,000,000, 13% over January, when they were unusually low. The U.S. export surplus is now running at an annual rate...
...Ford Falcon (New York list price: $2,040) costs an English buyer $5,238, an Italian $4,368 and a Frenchman $4,184. Many a businessman feels that unless foreign nations allow U.S. products to compete on equal terms in foreign markets, there will be a rise in protectionist sentiment...