Word: tariff
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...varieties of genetically engineered foods and that it will also set up regional research centers to evaluate the long-term effects of such foods. The Europeans have been steadfast in their opposition to genetically altered farm products such as corn and soybeans, prompting the U.S. to threaten stiff tariff retaliation...
...those 17 products? To "minimize impact" on Americans, says the Office of the U.S. Trade Representative. And how does the USTR determine the impact? By throwing the tariff list open to a beagle chorus of special pleading--by U.S. manufacturers eager to get their European competitors barred, by U.S. importers desperate to keep their shipments coming--and to comment by regular folks like Davis, who are caught in the cross fire. There may have once been a time when politics stopped at the water's edge, but today it scarcely taps the brakes...
After the disastrous Six-Day War in 1967, Hassan took charge of rebuilding Jordan's economy and settling Palestinian refugees. On economic issues, he is passionate and smart. "He likes to call people in to talk about tariff reduction," says a Western diplomat in Amman. "He's fascinated by details, whereas the king's eyes will glaze over." In 1972, Hassan established the Royal Scientific Society, a think tank that has produced some of Jordan's leading economic experts. A proponent of IMF-style adjustments, Hassan currently oversees a program of cautious reform, including price decontrols and bank liberalizations...
Biggest blunders: Signed Smoot-Hawley tariff; ineffective in alleviating Great Depression...
However, according to the Bureau of Public Affairs, MFN status is really a misnomer. It is not a privileged status, but a name for ordinary tariff treatment given to many nations...