Word: tariff
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...guidelines program a block away. Blumenthal has been squabbling with Trade Negotiator Robert Strauss. At a Cabinet meeting last month, the Treasury Secretary accused Strauss of having worked out a sweetheart deal with the textile industry that limits imports, in exchange for its support of the Tokyo Round of tariff reductions. Strauss claims his actions were politically necessary...
...added concessions made to protect some industries from tariff cuts, including steel, textiles and clothing, may hurt the effectiveness of the pact...
Vernon added that the agreement is novel because it also restricts non-tariff barriers to trade including government purchases from domestic firms, subsidies for domestic industry and import licensing...
...pickups imported last year was taxed at the full truck rate. The 25% levy, introduced by Congress in 1963 in retaliation for a European tax on American chickens, was originally designed to hit imports of the Volkswagen Transporter, which is no longer produced. Successive administrations have let the tariff go unenforced, and this is not likely to change, despite a General Accounting Office estimate that about $600 million in truck import taxes have been lost since 1971. Reason: U.S. automakers are playing the customs game alongside the Japanese...
...most popular method of avoiding the 25% duty is to import trucks in two parts, in which case only a 4% tariff applies. After clearing customs, the chassis (including the cab) is joined to the cargo bed, a process that a Datsun spokesman concedes "can be performed in a matter of minutes." Toyota has a different stratagem: it builds the cargo beds in California and imports the cabs and chassis. The most ingenious ploy is GM's. Chevy Luvs are sent from Japan to Tacoma, Wash., with the chassis and bed loosely attached. The two parts are separated...