Word: quotas
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Dates: during 1960-1969
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TRANSISTOR-RADIO QUOTAS will be set by Japanese government on exports to U.S. in a move to head off U.S.-imposed restrictions. Japanese companies have asked for quota of 6,000,000 sets with three or more transistors and 2,000,000 toy sets with one or two transistors, about 2,000,000 sets more than 1959 exports...
Creating Competition. Not many of the pleas for quotas or tariffs are likely to be heeded. The Administration and U.S. industry have learned that a quota or tariff system favoring one group usually brings new competition from another. Says a top Commerce Department official: "The inevitable result of controls is for U.S. importers to seek new sources of supply." Although the Japanese voluntarily limited their shipments of cotton goods to the U.S. in 1957, imports continued to rise. Last year they reached $202.3 million, v. $150.2 million in 1958. Japan's share of the U.S. market last year dropped...
Free-trade advocates contend that with such a surplus, prices would be lower, and competition increased if the quotas were abolished. While free market competition would drive the price down temporarily, Cuba in a pinch could probably produce sugar more cheaply than other nations, thus dominate the U.S. market. Cuba, which now limits its output, could expand it, squeeze out many foreign competitors and U.S. domestic sugar producers, which supply 53% of the U.S. market. Elimination of the quota system would bring violent price swings and leave the U.S. open to high prices or shortages during an international crisis, such...
...return to a free market is highly unlikely because of the power of the U.S. sugar lobby, which draws its strength from 25 beet-and cane-sugar-producing states, the Philippines and Puerto Rico. The lobby argues that the consumer, although paying for the quota system, has benefited from it through price stability. Over the past ten years sugar prices have risen less than the general rise in consumer food prices. The U.S. retail price of 11.5? per Ib. is about 5? per Ib. below the median price in 121 other nations around the world. Says a top Agriculture Department...
...most sugarmen see no objections to giving the President the power to change the quotas. Long before Castro, the quota system was a point of contention. Many other producing nations, e.g., Mexico and the Philippines, thought they were being shortchanged because of Cuba's huge share. Florida's Democratic Senator George A. Smathers last week urged that the U.S. cut Cuba's quota and redistribute the amount to such friendly nations as Mexico and Brazil. U.S. Ambassador to Mexico Robert C. Hill has also urged that Mexico's share be increased...