Word: tariff
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Whatever may happen "when the war is over," the wool industry last week was neither in need of tariff favors nor in danger of price cutting. It was in the midst of making a cleanup out of the war. For wool is a real war commodity-needed for soldiers' uniforms, overcoats, blankets. The U. S. has no wool surplus and the British Empire has forbidden wool exports outside of the Empire. Besides raw wool, millions of yards of woolens normally imported from Britain (1938 imports: 4,800,000 sq. yds.) will have to be made...
...both with lower costs han Phelps Dodge, followed the price up, while frightened consumers bought still more. Small copper fabricators, worried, ike small steelmen, about the rising price and shortened supplies of their raw material, began to exert political pressure on Washington to halve the 4? a pound copper tariff, in order to unfix the copper market by bringing 6 to 8? Chilean and Canadian Copper in. President Franklin Delano Roosevelt, his eye on scrap and steel as much as on copper, addressed another letter to Wyoming's Senator Joseph ("Dear Joe") O'Mahoney, charged his Temporary National...
...completely changed. 2) The costs of transportation changed just as radically. There were few ships available to carry cotton, coffee and tobacco. More important, the cost of insuring these staples in transit through mine-and-submarine-infested waters rose to affect commerce in the same way as if new tariff barriers had been erected. Rubber, for example, zoomed to 90? a pound in New York during the War, but in Singapore, it brought growers only 20? wholesale...
...penalty tariff on Japan's exports to the U.S. would hit the silk trade. Japan produces 75% of the world's raw silk, the U.S. consumes almost all of it, and neither can find an adequate market or source of supply elsewhere. U.S. women would suffer by paying more for silk stockings (half the world's silk sheathes their legs) and Japan would be threatened with permanent loss of part of her silk market to nylon, rayon and other synthetic U.S. yarns...
Irony of the Syndicate's sudden discovery that it had a real rival in the U. S. potash industry is the fact that U. S. production has been subsidized by no tariff. Had the foreign producers not set up monopoly prices, the U. S. industry might have grown more slowly, but the Cartel's greed was all the "protection" that the infant industry needed. The Syndicate's final stupidity was to maintain its prices during the 1938 depression. As a result its sales to the U. S. fell from 351,445 tons to 193,609 tons...