Word: tariff
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Prime Minister Kakuei Tanaka ordered a 20% slash in tariffs on most imports of industrial and mining products. The average Japanese tariff will come down to 9.5% on consumer goods. In addition, the Tokyo government will let in more goods (computers, leather products, many foods) that are restricted by import quotas, and will make low interest loans to importers first rather than to exporters, as had previously been its policy. The government also has invoked an ordinance compelling companies to form cartels to restrict exports of products deemed to be winning foreign customers too rapidly...
...Mutual treatment of each other's goods as imports from "most-favored-nations," meaning that both countries must impose the lowest possible tariffs on the other's merchandise. The effect of such tariff treatment on Russian vodka in the U.S., for example, would be to cut about $1 per quart from its retail price, making Moscow's excellent Stolichnaya brand more competitive with American products...
...other side of the issue, businessmen, journalists, trade unionists, top civil servants and Norway's two major political parties pushed for membership. More than 23% of Norwegian trade is with Common Market countries, and outside the EEC Norway will find new tariff barriers for its exports of fish products, paper and metal alloys. In a belated attempt to curb anti-EEC momentum, Socialist Premier Trygve Bratelli, 62, who had risked his reputation and millions of government kroner on pro-EEC propaganda, threatened to resign if the EEC was spurned...
...economic future is uncertain. Norwegian kroner fell on foreign exchange markets, and some prices on the Oslo stock exchange registered their largest drop since World War II. Jubilant anti-Marketers danced in victory, but depressed industrialists predicted that it would take at least a year to negotiate a preferential tariff agreement with...
Despite those fears, the hard fact remained that Ireland outside the EEC would have to "plow the lonely furrow of the Atlantic," as one pro-Marketeer put it. Nearly two-thirds of Irish exports go to Britain, and they would face a prohibitive tariff wall if that country, as is now expected, joined the EEC. Irishmen stand to benefit from higher Continental prices for their beef and lamb, and from an influx of industries, mostly American, seeking a European base. More than 200 companies indicated that they would invest in Ireland if the referendum was favorable...