Word: tariff
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Dates: during 1950-1959
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Ideally, U.S. policy aims toward a free world of independent nations bound together in growing prosperity by a thriving, dependable free trade. Realistically, the U.S. has poured billions overseas to rebuild the industrial nations and finance the undeveloped, while many a rebuilt, well-financed country has maintained tariff walls against U.S. goods or tight controls on dollar purchases. Samples: Britain still limits or bars a long list of U.S. goods ranging from construction machinery to comic books; France excludes U.S. bourbon while buying British Scotch; Japan requires licensing for 70% of her imports, will not let Japanese businessmen buy some...
Other German attempts to prop coal have also flopped. Last February Bonn put a $4.76-per-ton tariff on all coal imports exceeding 5,000,000 tons a year, mostly from the U.S. That only irritated U.S. producers. The tariff halved imports from the U.S. to 3,100,000 tons in the first six months of 1959, but German surpluses went up by almost 5,000,000 tons...
...production of the uneconomic coal industry, rather than the fast-growing, efficient oil industry. West German miners dig only two tons a day (v. twelve tons for a U.S. miner), and domestic coal still sells in German port cities for $4.75 a ton more than U.S. coal, despite the tariff. West German coal production of 132 million tons a year far exceeds its needs, and its exports are heading down because surpluses in France run to 11,100,000 tons, in Belgium to 7,900,000 tons...
...last year KLM collected $29.4 million on 86,225 U.S. passengers, while Pan Am got only $1,700,000 from 2,842 Dutch passengers. While cutting into U.S. markets, foreign carriers are strengthening themselves against inroads into their home territory; e.g., European carriers got I.A.T.A. to place a special tariff on transatlantic jet flights because they do not have jets to compete with the Boeing...
...world's largest manufacturer of an unlikely combination of products: self-locking aircraft nuts and women's hairclips. Last week, with sales humming on four continents at the rate of $15 million yearly, Kaynar opened a new plant in France to take advantage of the low-tariff common market...