Word: tariff
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Dates: during 1980-1989
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...PAST 35 YEARS. 88 nations have committed themselves to reducing international trade barriers by signing the General Agreement on Trade and Tariffs (GATT). Haunted by the memories of the high tariff policies of the Great Depression and persuaded by the arguments of free trade economics, almost all the world's noncommunist countries have agreed that protectionism is a dirty word. But the tenuous consensus reached in Geneva last Monday by the GATT ministers fails to break down trade barriers. Instead, it just sweeps them under...
After World War II, members of the victorious Alliance recognized that open trade, which creates global interdependence, would reduce the likelihood of international conflict. The world's trading partners formed GATT so that they could meet at occasional conferences to make mutual commitments to tariff reductions. Nations agreed to lower their trade barriers and to accept increased imports in exchange for the opportunity to expand exports...
...have all the GATT members met at the ministerial level to determine world-wide trade policy--the Kennedy Round of talks in the early 1960's and the Tokyo Round in 1973. At those meetings, the GATT procedure worked ideally, and trade partners rapidly agreed on remarkable reductions in tariff levels...
...more dissimilar. Danforth, an uncommonly shy campaigner who appears on the stump infrequently, is an ordained Episcopal priest and an heir to the Ralston Purina dog-food and cereal fortune. He is emphasizing his efforts to help two beleaguered groups-the state's auto workers (with increased tariff protections against imports) and its farmers (with rural enterprise zones). But, as the first Republican elected to the Senate from Missouri since 1946, Danforth is de-emphasizing his ties to the Reagan economic program. One of his political ads urges voters to forget the Republican Party and vote...
...program, however, is off to a bad start in Congress. The House Ways and Means Trade Subcommittee voted to deny duty-free status to Caribbean goods like shoes, handbags, luggage and leather clothing and to limit the amount of rum that could be imported without the imposition of a tariff. Last week two other House subcommittees barred any Caribbean nation from receiving more than $75 million of the $350 million extra-aid package. The Administration had earmarked $128 million for strife-torn El Salvador, nearly twice as much as for any other country. One of the panels also insisted that...