Word: tariff
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Dates: during 1960-1969
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...Kennedy Round of tariff cuts stimulates huge growth in world trade...
Czechoslovak goods. A survey of fac tory managers showed that two-thirds of them give priority to the home market because, the report said, "the people are not selective." The men in charge of the economy vigorously protest the refusal of the U.S. to grant Czechoslovakia most-favored-nation tariff treatment. By stimulating sales to the U.S., such a step could give the Czechoslovaks a psychological as well as an economic lift...
...other items that must be settled before Britain's admission could be taken up anew. "Don't take a vacation during the Christmas season," Rey warned newsmen. Before year's end, he expects marathon sessions to wind up the Common Market's interim period of tariff adjustments, to sort out the thorny agriculture support-price issue, and to grant increased supranational powers to the EEC's executive and parliament. Said Rey: "If the solutions are not ready at midnight on Dec. 31, we will stop the clock and 1970 will commence a few hours later...
That movement hit its high-water mark two years ago, when the Kennedy Round of world trade negotiations produced the deepest industrial tariff cuts ever made. Since then, protectionism has been staging a global comeback and has involved the U.S. in disputes with many nations. In Europe, a host of new nontariff barriers have partly offset the cuts in duties. Special taxes on imports last year helped West Germany to record a surplus in trade with the U.S. for the first time...
...Southern voters that he would press for quotas, and now many businessmen believe that he owes them some import protection. The Administration has threatened to take unilateral action if it cannot persuade Japan and other trading partners to accept "voluntary" quotas. U.S. action could involve the revoking of textile-tariff concessions that have been granted in the past, or Congress could legislate quotas. Either way, a worldwide trade war might result, provoking retaliation not only by Japan but also by many other nations against a wide range of U.S. goods...