Word: tariff
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Dates: during 1950-1959
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...White House put so much behind-the-scenes heat on wavering Republican Congressmen (who voted 2 to 1 for the bill) that baffled Tariff Lobbyist Oscar R. Strackbein, after betting a month before on a victory for the protectionists, glumly observed: "I have never seen such pressure since the days of Franklin Roosevelt." In the last days before the floor debate, Republicans trudged into Dick Simpson's office to ask him to release them from their promises to vote with him. A vote against reciprocal trade, one explained, would cost him White House support for a bill that...
...partly it was the sheer weight of fact: farm prosperity, signs that the recession is easing, realization that the Government faces a deficit of $10 billion or more in the fiscal year ahead, overseas rumblings showing that 1958 is no year to retreat toward isolationism by building higher tariff fences and slashing foreign aid. After pondering the facts, plus the sentiments of the voters back home, many a congressional man in motion switched direction to follow his followers...
Privileged Business. Under the amendment, adopted by a 16-to-9 Ways & Means Committee vote, if the President were to override any recommendation of the Tariff Commission, Congress would have 60 days to reverse his decision by a two-thirds vote in both the House and Senate. Actually, Congress already has that power: it can pass laws reversing presidential tariff-cutting decisions, then override a presidential veto by a two-thirds vote. The only real difference is that under the Martin amendment a resolution reversing the President would become privileged business; i.e., it could come directly to the floors...
...point thoughtful economists agree on -and the key to a solution -is that the worst possible course for the U.S. is to erect further tariff barriers against foreign commodity imports. While the victims of the commodity slide do not blame the U.S. for the falling prices, they do blame it for the quotas and tariffs -and the threat of more -which can only make their plight more painful. The best long-range solution to the economic problems of the world's underdeveloped lands is a free market for trade in which they are able to take full advantage...
...Latin American countries are characterized by ultra-nationalism and large differences in the living standards of rich and poor, McGann said. He noted that economic problems have been accentuated by our tariff policy, and the inability of South American coffee growers to form a working world-wide cartel...