Word: tariff
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...What worried Wilson concerns political leaders and businessmen throughout Europe: the deepening division between the Outer Seven (Britain, Sweden, Norway,Denmark, Portugal, Austria, Switzerland) and the Inner Six (France, West Germany, Belgium, Luxembourg, Italy, The Netherlands). On Jan. 1, 1967, the European Free Trade Association's final internal tariff reductions go into effect, to be followed six months afterward by those of the Common Market, and the worry is that trade patterns will become so set within the blocs that attempts to join them will be increasingly fruitless...
...trade barriers and ultimately integrating their economies will Latin America's 19 nations solve their social and economic problems. Addressing U.S. and Latin American businessmen in Mexico City, the New York Republican pointed out that development of an economic community with unified trade policies and a common external tariff would 1) "greatly increase Latin America's leverage with the industrial countries of Western Europe, North America and Japan in the field of trade," and 2) exert a "powerful pull" on the outside capital that is essential for rapid industrial development...
...treaty that ended the Soviet occupation-and because Austria already belongs to a rival trade bloc, the European Free Trade Association. Austria depends on the Common Market for 50% of its trade (v. 18% with EFTA), and feels that its prosperity is endangered by the Market's common tariff barrier. Says Austrian National Bank President Reinhard Kamitz, a prime architect of Austria's economic revival: "As long as we do not try for full membership, we will not be violating our neutrality agreement...
Skirting the Issue. Beyond the shooting incidents, there is a mounting resentment of the Laurel-Langley Trade Agreement,* which 1) gives U.S. businesses operating in the Philippines equal treatment with local businesses, and 2) gradually increases tariffs on Philippine exports to the U.S. By 1974, when the treaty expires, Philippine goods will receive no tariff preference from the U.S., and at the same time U.S. capital in the Philippines (now amounting to $400 million) will have to face the same restrictions as all other foreign investments. On the one hand, Filipino exporters want a return to full tariff preference...
...twice the wealth, trade and population of the other six combined. Those far-flung nations range from socialist Norway, Sweden and Denmark through dictatorial Portugal to neutralist Austria and Switzerland. Unlike the Common Market nations, they have no hopes for ultimate political union, no plans to reduce farm tariffs, no intention of establishing a common external tariff...