Word: tariff
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...that, the President scratched his head-remembering, perhaps, that the makers of cotton cloth were also voters. And so he ordered the wise men of his Tariff Commission to consider whether they should not put a tax of 8½? on each pound of cotton in the cloth that the foreign merchants sold to the President's country. The wise men of the Tariff Commission knew that such a tax would not satisfy the clothmakers of their own country, whose real hope was that the President would tell the foreign merchants straight out that they could sell only...
...billion to $6 billion more from selling its exports abroad than it spends to buy imports-a trade surplus that vitally affects the U.S. balance of payments. One-third of all U.S. trade is with Western Europe, and the six-nation Common Market's policy of holding high tariff walls against outside nations while lowering the barriers among themselves is sure to cut heavily into the U.S. trade surplus. In order to barter for the lowering of those walls-and to increase U.S. trade with other nations-Kennedy wants to give foreign imports a better break...
...Eliminate the present "peril-point" clause, which sets a minimum tariff below which the domestic industry involved is held to be endangered...
...Atlantic Alliance a virtual free trade area. At present, Washington is buzzing with debate over what has been called "a minimum step in that direction"--the passage of a new Trade Agreements Act (the present one expires in June) which would empower the President to make across-the-board tariff reductions in negotiations with the European Economic Community...
...expiration of the Reciprocal Trade Act, he explained, will force a decision on U.S. policy toward the European Common Market. Congress may also deal with the question of additional tariff protection for ailing American industries, such as the wool and textile trades in New England...