Word: tariff
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...calls for a man skilled in negotiation, experienced in all of the subtleties of U.S. foreign policy, knowledgeable about the world's economy and acquainted with the technicalities of tariff-law "escape clauses." "I defy the Administration to find anyone of sufficient prestige who knows the subject," declared an old Government hand some weeks ago. As it turned out, the man who made that statement was the one who last week got the job: former Secretary of State Christian A. Herter, 67, named by President Kennedy to become Special Representative for Trade Negotiations...
...which is the Kennedy Administration's most notable legislative achievement to date. In naming Republican Herter, President Kennedy said that he would "be accorded a central role in the formulation of trade policy." Herter will be top U.S. negotiator at international trade conferences, handle day-by-day tariff matters, head a Cabinet-level organization of foreign trade advisers to the President, and will be expected to look out for the welfare of U.S. business even as the U.S. lowers its tariffs so as to compete with Europe's burgeoning Common Market...
...move that would have excited the imagination of Homer, though he might be hard put to make poetry out of it, Greece wheeled its fragile economy into Europe's Common Market last week. As the first associate member, Greece will benefit from the Market's present 50% tariff reduction for insiders and has been given twelve to 22 years to lower its own tariffs to zero-the near-term goal of the other six nations. This is a special dispensation to give Greece time to shape its inadequate, overprotected and disorganized industries to compete in Western Europe...
Razing Walls. While the Common Market has given challenge and impetus to Greek businessmen, they admittedly face some stern readjustments in their cherished protectionist attitude. Greek tariff walls, rising as high as 280%, have created what one top Greek economist, finding a Greek-originated word for it, calls a "prophylactic economy." The Greek rendezvous with Common Market free trade and industrialization is a unique experiment, with perils and promise. Says Banker John Pesmazoglu, Greece's Common Market negotiator: "What our treaty amounts to is a test case for the Common Market and for the free world. Greece must...
...Ford II, G.M. Chairman Frederic Donner and Chrysler's President Lynn Townsend, he urged U.S. and foreign automakers to make common cause in ending all trade barriers in the free world. "I look with the same great concern as you do on the protectionist thinking of certain high-tariff groups within the Common Market countries," said Nordhoff. "The Common Market is not something to be used as a third force between America and Russia. It is part of the free world . . . and the free world must trade as freely as it communicates, without selfish protection by economic boycotts against...