Word: tariff
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...Orinoco tar pools to be developed as a fuel source. The problem is that Caracas nationalized the petroleum industry 18 months ago and now many firms are wary of risking more capital in Venezuela with its new, highly nationalistic investment rules. As for the question of preferential tariff treatment for Venezuela, eliminated by Congress for all OPEC members after the 1973 oil embargo. Carter promised to do all he could to get Congress to rectify the punitive measure...
...that the charges could be as much as $2 too high. If the commission orders a cut, it would benefit not the consumer but the state of Alaska. The consumer will probably wind up paying the same price as for imported oil, now $13.50 per bbl. If the pipeline tariff goes down, the companies that own the line can make up most of the difference by paying their producing subsidiaries a higher price at the wellhead to pump the oil out of the North Slope. And their arrangement with the state declares that the higher the price at the wellhead...
Illegal Rebates. The kickbacks supposedly work this way: if a Japanese manufacturer sells a TV set in the U.S. for a price lower than it charges for the same set in Japan, that constitutes "dumping" under international trade rules and subjects the manufacturer to a penalty tariff. So the Japanese manufacturer quotes the U.S. importer an official price equal to the Japanese price, then makes under-the-table payments -in effect, illegal rebates-that allow the U.S. company to offer the set at prices that undercut U.S.-made TVs by $100 or more. Sometimes the payments are disguised as rebates...
...remain powerful. In an effort to defuse those tendencies in the U.S.-where they are strong in Congress and among the trade unions-President Carter, a committed free trader, is trying to solve trade problems one at a time. The unpleasant alternative would have been to resort to high tariff barriers that might set off a global trade war and raise havoc with the fragile world economy...
That still leaves much to talk about. Protectionist sentiment is on the rise in the U.S. and Europe, though Carter's refusal in March to impose higher tariffs on shoe imports is seen as an effective countering force, at least in spirit. Indeed the Europeans and the Japanese are by and large encouraged by what they have seen of Carter so far. Says one top European policymaker: "I detect a world approach that is very impressive." The President hopes to revive the bogged-down Tokyo Round of tariff-cutting trade negotiations begun two years ago in Geneva. Says...