Word: tariff
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...chicken war-that silly but symbolic dispute between the U.S. and the Common Market-finally ended last week with each side holding a leg. After a dispute that dragged on for 17 months, a panel of neutral experts decided that the Six's tariff hike on chick ens had cost the U.S. $26 million in exports. Though the estimate of losses was only about half as high as the U.S. had argued, both sides could claim victory-the Common Market because the loss figure was much nearer to its estimates, the U.S. because the ruling implied that the Market...
...vanguard are 57 small manufacturing companies drawn to the Virgins since 1957 by a favorable tariff concession: merchandise moves into the U.S. duty-free if 50% of the cost of processing it was spent in the islands. Seven watch companies-including subsidiaries of Hamilton and Benrus-assemble movements from Japanese, French, Moroccan and even Russian parts that are imported at the Virgins' low 6% tariff rate. Other companies process shoelaces, textiles, pens and medical thermometers. Old-line sugar planters complain that they can no longer get cane cutters at 600 an hour while the new factories...
...Democratic Party very delicately. Erich Mende, leader of the Free Democrats, is now Erhard's vice-chancellor and will undoubtedly try to influence policy more than he has in the past. As a primarily business-oriented party, the Free Democrats will be especially uneasy about the Kennedy round of tariff negotiations and Erhard's intentions to push for lower trade barriers...
...issue that involves barely 1% of U.S. exports to the Common Market, the chicken-tariff war has produced a ridiculous number of international conferences, alarming statements and bad gags. Last week truce was declared. After a final all-night session, bargainers in Brussels agreed to submit the disputed facts to arbitration. In the next three weeks, a panel chosen from nations not involved will determine exactly how much of U.S. chicken exports to the Common Market have been affected by the restrictions of the Six. The U.S. claims that the loss is $46 million a year, the Europeans that...
...week's end, with apt but accidental timing, the Common Market automatically lowered its chicken levy to compensate for rising world prices. The tariff fell by 1.1?, to 12.3? per pound, which is still almost three times what it used...