Word: tariff
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...high politics. Jackson staked his political career on a showdown battle over fiscal policy, and shuffled Secretaries like poker cards until he got one who agreed with him. And so, embroiled in one vital question or another, the Treasury was at the heart of politics in subsequent administrations; Treasury & tariff, Treasury & greenbacks, Treasury & free silver, Treasury & the gold standard were hotly argued at the nation's dinner tables through the generations, and into the first months of the New Deal...
...watchmakers' long fight for a high protective tariff on Swiss watches, none fought harder than Elgin National Watch Co.'s President James G. Shennan. But when Harry Truman vetoed boosts of as much as 50% recommended by the U.S. Tariff Commission last summer (TIME, July 14), Shennan knew he was whipped. Last week, in a statesmanlike manner, he conceded it. He still did not agree with the President's decision, said Shennan, but "we are aware that [it] reflects a widespread belief that a reduction of tariff barriers will further the interests of world peace. However much...
...economy, who feel strong enough to raise the cry: "Trade, not aid!" In early winter, their cry was answered by a bold program advanced by many U.S. businessmen, notably the members of Detroit's Board of Commerce. The Detroit Board advocated the eventual re moval of all U.S. tariff barriers so that for eigners can compete on equal terms with U.S. manufacturers...
Actually, the U.S. has already done far more than the rest of the world realizes toward making it easier for foreign goods to enter. Since 1932, U.S. tariffs have been cut in half, and last year President Truman courageously blue-penciled some recommended boosts (e.g., Swiss watches, Italian garlic) pushed through the Tariff Commission by lobbies...
Consequently "the United States is in the precarious position of having adopted a foreign policy that is in danger of falling because it requires changes in the country's tariff policy which the voters and pressure groups may not be ready to approve...