Word: tariff
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...other was rambunctious Harold Stassen, the only avowed Republican candidate in the ring. In a radio speech before Manhattan's National Republican Club he said: "A high tariff policy no longer suits America. . . . We believe in the increased flow of goods and materials and services and travel around the globe.... The alternative is either to go forward now with the reciprocal trade agreements, or to slide backward in economic isolation...
...been informed that "lowered import duties constitute a threat to American industry, agriculture, and defense," and Senator Butler, Republican of Nebraska, has revealed that the reciprocal pacts have been "a gigantic hoax on the American people . . . solely for the benefit of other nations." But the faithful of the high tariff flock have been unable to point out a specific case of lowered tariffs or reciprocal agreements adversely affecting American industry. They continue to cry wolf, blind to the lesson they should have learned 15 years ago--that wolves feed on high tariffs and not on low ones...
...during slack years, they fell. Above all, the imports of most items have been an insignificant percentage of American consumption of that item. Woolen and worsted imports, for example, have never amounted to 2% of total U. S. consumption, and yet, the American woolen industry is strenuously opposing any tariff rate reductions on woolen and worsted imports...
...America can export only if it accepts imports of approximate value as repayment. Through the medium of the reciprocal trade agreements, the gradual attainment of these conditions has been made possible. The best interests of the nation will be served if the trend continues toward and not away from tariff reductions...
Under the "Hull program the U.S. has negotiated reciprocal agreements with 29 nations. Concessions have been made in 1,250 tariff items. Had any U.S. industries suffered as a result? The principal complaints came from, makers of pottery, watches, handmade glassware and lace; and from the cattle industry. But, according to State, those U.S. enterprises have not really been hurt by lower tariffs. Cattlemen, for example, complained that during 1936 a shipment of Canadian cattle had depressed the Minneapolis market. State countered that large cattle shipments frequently depress markets, locally and temporarily; a shipment from South Dakota might have...