Word: tariff
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Dates: during 1950-1959
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...Allow specified goods-mostly manufactured items-to move between member nations free of tariff...
...Have no common tariff against outsiders, thus allowing Britain, nearly half of whose trade is with other Commonwealth nations, to continue giving "imperial preference" to the agricultural products which make up nearly 90% of Commonwealth exports to Britain...
...Channel, the British were keenly aware that the Six offered the fastest-expanding major market in the world. (Since 1950, annual imports of the Six have increased from $11 billion to $19 billion.) The British were also aware that if they stayed out of the Common Market, the tariff wall thrown up by the Six (who now buy one-eighth of Britain's exports) might well exclude many British goods, and that, under these circumstances, commercial and eventually political domination of Western Europe would fall into the hands of Germany...
Voluntary Curbs. Some Southern states, irked by Government sales of cotton to Japan at 25% discount, pushed for restrictive state laws to check Japanese imports. The Tariff Commission urged presidential approval of a 100% hike in velveteen tariffs, the highest in 27 years; it began studying higher tariffs on Japanese gingham imports, now 48% of U.S. production...
...avoid tariff increases that would be a blow to free trade, U.S. and Japanese commerce officials tried to work out a compromise. U.S. manufacturers wanted to limit imports to 225 million yds. overall in 1957. Japan held out for its 1955 level of 270 million yds.-half in yardage fabric, half in readymade goods. When U.S. textilemen suggested more Japanese concentration on yardage cotton goods (dominated by more efficient U.S. producers), Japanese Cotton Spinner Spokesman Yasuo Tawa said tartly: "They are giving us broad fishing areas where there are no fish, and shutting us out of narrow seas which...