Word: tariff
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Dates: during 1950-1959
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While political cartoonists delight in picturing the evils of America's tariff walls, Congress has never seemed to find any interest in lowering them. Within the past few months, however, a number of government commissions have acted to dispel Congressional fears about lowered tariffs. Both the President and leading economists are now pleading for an even more liberal trade policy than the one outlined in the Randall Report. Favoring freer trade are not only the traditional arguments such as lower prices for home consumers, but a present need directly connected to the security of the United States...
...most grevious effect of American tariffs is the bitter resentment generated in foreign nations unable to sell their goods here. Restrictions against exporters in Italy, for example, have increased the strength of anti-American groups in that country. Other North Atlantic allies have voiced their dissatisfaction in sharp denunciations of the U. S.'s stringent tariff barriers. As Canada's Prime Minister warned, "We don't want to see the kind of will develop which (U. S.) tariffs inevitably create." So while time and dollars are spent to win friends abroad, the United States is helping defeat its own program...
...Communist propaganda. What makes the situation particularly dangerous is the impending drop of nearly three and a half billion dollars in aid. In order to keep the dollar gap closed, foreign countries will be forced to increase their restrictions even further. If it were not for the U. S. tariff barriers, Europeans could make up their dollar deficit by selling goods on the American market...
...take your places," urged Acting Subcommittee Chairman Karl Mundt, rapping sharply for order with a glass ashtray (Capitol police had removed the brown china ashtrays inscribed "If it's American, it's worth protecting'' which had been placed around the table by an enterprising high-tariff lobbyist). After delivering himself of a windy, 1,800-word speech on the problems and aims of the hearings, Mundt called for the first witness-and at that precise point. Joe McCarthy made his first move. Pulling his microphone close to him he objected strenuously to the fact that...
...Extend the Reciprocal Trade Agreements Act for three years, with new presidential authority to negotiate tariff cuts up to 5% a year and to make other tariff adjustments...