Word: tariff
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Dates: during 1950-1959
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...Franco and Salazar, as for Britain and Scandinavia, the problem was whether they could afford to remain outside the Common Market (a super-customs union of France, West Germany, Italy and Benelux). If Spain and Portugal join, they are likely to be swamped with tariff-free industrial imports, cheaper and better than comparable products of their own; if they stay out, French and Italian farmers and merchants, operating behind the Common Market customs wall, may take away the European markets for such Spanish and Portuguese products as citrus fruits, cork, wine, sardines and pyrite...
...nowhere was the soul-searching more intense than in London. From the moment the Common Market idea was born, British industry has been keenly aware that it will be badly hurt the day that Germany can sell her manufactures in a tariff-free market of six nations and 160 million people, while Britain is walled out. Impelled by this vision, Prime Minister Harold Macmillan and Chancellor of the Exchequer Peter Thorneycroft last year proposed a plan for a wider Free Trade Area of 16 European nations-including the Common Market six-which would exchange manufactured goods free of tariff...
WEST GERMAN INFLATION will be eased by 25% tariff cut designed to spur import of low-cost foreign goods, trim West Germany's $4.95 billion gold and foreign-exchange reserves, which are mounting at rate of $1 billion a year. To tighten domestic money supply the Bank Deutscher Laender (the government's central bank) will also lend $100 million to World Bank at terms of from one to three years at 4¼% interest...
...they were milestones too, and history will so record them. West Germany took last week and France will take this week the crucial steps to declare themselves part of a Common Market that will enable these divided lands for the first time in modern history to have a vast, tariff-free trading zone comparable to the U.S., embracing six nations and 160 million people. At the same time (see below), the most powerful of Western European nations, West Germany, voted, to outlaw the return of cartels in favor of free enterprise and competition. It did so largely at the insistence...
...Slapped at the Administration's freer-trade policy by calling for "an immediate review of tariff legislation to bring relief to hard-hit American industries...