Word: tariff
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...officials turned to alternative half-plans, designed to boost exports and seek new markets. They knew they now had to provide against the day in 1967 when the Common Market, which now imports more than $2 billion worth of British goods yearly, will be protected by a single, uniform tariff wall. At Whitehall's request, Christian Herter, President Kennedy's special representative for trade negotiations, hastened to London to discuss new tariff-cutting strategy between the two nations to increase Anglo-U.S. trade. Britain also started a round of conferences with its hapless friends in the moribund...
...businessmen were already engaged in looking where else to turn. For some, among whom the noisiest was Lord Beaverbrook, the best alternative was to whip the Commonwealth into a kind of super common market. Composed of 16 nations that are threaded together by a complicated system of preferential tariff agreements, the Commonwealth has a population of 715 million, accounts for 23% of the world's trade. The Commonwealth, India's Nehru once mused, is "a rather strange and odd collection of nations which has found some kind of invisible link by seeing that there is practically no link...
...trading charter called for the members to send their agricultural products and raw goods to Britain, buy manufactured goods in return. But during World War II, Britain revitalized its farms, reducing its need for imported foodstuff. After the war, as Commonwealth members began to industrialize, they threw up tariffs to protect their fledgling industries. Last year, even while Canadian Prime Minister Diefenbaker was pleading with Prime Minister Macmillan not to join the Common Market, Canada slapped a temporary 10% tariff on British autos...
...Gaulle to break. While trade with the Commonwealth slackened, British sales to the Common Market increased an impressive 17% last year. Still, British businessmen worry about how their exports would fare in case of a European recession or when the Common Market applies a standard 15% to 25% external tariff by 1969. Clearly, if Britain is to survive as a major industrial power alongside, instead of inside, the Common Market, British industry must improve its productivity so that its goods can compete in Europe despite the Continent's rising tariff barriers...
Named last week were the first two companies chosen for protection: GINSA, the General Tire Corp. subsidiary in Guatemala, and Nicaragua's Hercules Powder Co. insecticide plant. Both will be able to ship their products throughout the Central American market free of tariff and will enjoy the shelter of a high common tariff against competitive imports. Theoretically, there is nothing to prevent their foreign competitors from setting up plants in Central America, too, but such plants would not get the same tariff breaks. All this may well lead to rapid growth for GINSA and Hercules. But it may produce...