Word: tariff
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Dates: during 1950-1959
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COPPER PRODUCERS are pressuring Congress for higher import walls. They want 4?-a-lb. tariff when prices fall to "peril point" of 30?, instead of current tariff (suspended until next July) of 1.8? a Ib. at peril point of 24?. With copper now selling at 25?, Congress is leaning toward peril-point boost, but frowns at lifting tariff itself...
Adroitly, the new Soviet economic offensive in South America focused on a pair of sensitive issues: U.S. oil policy and U.S. trade and tariff policy...
...Trade & Tariffs. U.S. purchases from Latin America poured $4 billion into the area last year†-a sum half again as much as U.S. economic assistance funds for the whole world. But simply because the trade is so large and so vital, minor changes in U.S. tariffs can affect it drastically. The worst-hurt nation currently is Uruguay. Since 1951 U.S. imports from Uruguay have fallen from $102 million a year to about $18 million, mostly because Western sheep raisers in the U.S. got a prohibitive tariff put on Uruguayan wool. Now the Russians, smoothly operating through Dutch importers, have...
Currently worrying half a dozen Latin American countries are proposals before the U.S. Tariff Commission to raise lead and zinc duties, and congressional talk of new tariffs on copper and petroleum...
...also easing around the world, bringing a drop in the demand for U.S. goods. The record dollar value of U.S. exports ($19.5 billion in 1957) and imports ($12.7 billion) may slip less than 5% in 1958. One of the major battles of 1958 will be over U.S. tariff walls and reciprocal trade pacts, with traders insisting that the U.S. does not buy enough and protectionists insisting that it buys too much. Yet in 1957, an encouraging answer to critics who say the U.S. does not trade enough was the case of foreign automakers: they boldly invaded Detroit's home...