Word: tariff
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Dates: during 1950-1959
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Reciprocal Trade. Before passing the Administration bill by a resounding vote of 72 to 16, the Senate knocked out the Senate Finance Committee's most damaging piece of butcherwork: a provision that the President may not overrule Tariff Commission recommendations for higher tariffs unless majority votes in both houses of Congress back him up (TIME, July 21). Co-sponsors of the amendment to undo the Finance Committee damage: Majority Leader Johnson and California's Minority Leader William Fife Knowland, joining forces in an overwhelming coalition. "This was not a party matter," said Johnson. "This was Congress standing there...
...Slashed the bill's time span from five years to three, and the President's maximum tariff-cutting authority from...
...Provided that the President cannot overrule Tariff Commission recommendations for higher tariffs unless majority votes in both houses of Congress back...
Swinging with accustomed wildness, the Senate Finance Committee last week assaulted one of President Eisenhower's three legislative "imperatives": the five-year reciprocal trade bill that the House had passed by a lopsided majority of 317 to 98 (TIME, June 23). In a surrender to tariff-lobby pressures and isolationist propaganda, the committee...
...Tariffs: since 1934, the U.S. has gradually reduced tariffs, expects to continue; of "about a dozen" tariff increases granted under escape-clause provisions, only one has materially affected Canadian exports...