Word: tariff
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...subject of the tariff on shoes [March 28]: I buy Italian street and dress shoes and German hiking shoes because they fit and are comfortable. I find that most American shoes make my feet hurt, and they appear to be getting more and more uncomfortable as the years go by. As a matter of fact, we need tariffs on meat and grain as well as sugar, or I, as a farmer, won't be able to afford any shoes...
That said, Carter proposed to restrict trade in a "modest" way. He will try to negotiate agreements with South Korea and Taiwan under which those nations would "voluntarily" cut back exports to the U.S.-mainly of work, athletic and vinyl shoes-in return for a pledge of no tariff increase. The Administration hopes that other nations, such as Italy, Spain and Brazil, will reduce their shoe sales in the U.S. (or at least not increase them) without formal negotiations. The President also pledged to ask Congress for federal aid to the domestic shoe industry that could total $1 billion over...
...producing states voiced loud displeasure that Carter did not go for tougher restrictions. Free traders will not be overjoyed either, but they have less reason for dismay. Had Carter done no more than reject the ITC recommendation, Congress would probably have overridden his decision and forced enactment of the tariff boost; it might do so anyway. The decision indicates that even under heavy protectionist fire, the President will choose, if not all-out free trade, then as much free trade as he can get away with...
...timing could not be more awkward for the President. In early May, he will go to a seven-nation economic summit in London to argue, among other things, for free trade and lower tariff barriers. He must make a decision on shoe tariffs by April 9, and on sugar and color-TV imports one to two weeks after the summit. If the President acts to cut imports sharply, his free-trade evangelism in London will seem hollow or even hypocritical. If he ignores the protectionist pressures, his summit partners will be pleased, but Carter will face domestic protest...
...Tariffs and Quotas. The ITC wants a quota of 265 million pairs-equal to 1974 imports-on the number of shoes that can come in under the present 10% tariff, and quadrupling the tariff to 40% on any additional imports. It would raise tariffs on color TVs from 5% now to 25% for the next two years, then drop them back to 20% for an additional two years. The commission further would cut the quota on sugar, now 7 million tons, to a maximum of 4.4 million tons a year. Labor leaders, businessmen and politicians from regions hurt by imports...