Word: tariff
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During the European Economic Community's eleven years of existence, no member has poured more vinegar into the wine than France. Last week, as the Common Market prepared to take the historic step of eliminating all remaining internal tariff barriers, the French acted according to form. Faced with a worsening balance of payments problem, Charles de Gaulle's government marred the milestone by announcing a protectionist package of import quotas and export subsidies...
...tariff reductions would aggravate France's problems, since it has until now enjoyed some of the highest tariffs of any EEC member. The new French quotas are designed to keep imports of affected goods from rising any more than 15% above last year's levels. Yet in some cases the quotas will be tantamount to a total freeze on imports. Italy, for example, has sold at least 30% more appliances in France so far this year than it did in all of 1967-with the result that it has already exceeded the new French levels. Indeed, France...
...tariff barriers came down, so did the price that Canadians had to pay for imported autos. At the same time, because of the proximity of their Canadian plants to key American markets, automakers have been encouraged by the free-trade arrangement to expand their production north of the border. For Canada, the payoff is an expanding auto industry, new assembly jobs for its workers and, as a result of growing auto exports, a decrease in the size of its trade deficit with...
France's payments position stands to get an additional jolt on July 1, when the Common Market is due to abolish all remaining tariffs on trade between member nations. At the same time, the Market is scheduled to introduce uniform external tariffs, which will promptly be reduced in accordance with Kennedy Round agreements. This figures to hurt France, since it presently enjoys some of the highest tariff levels of any of the six Common Market members. Elimination of all tariffs within the Market, meanwhile, will completely open French borders to the goods of such powerful trading partners as West...
Eric Wyndham White, 55, has spent the past two decades coaxing industrial nations into lowering their tariff barriers to international trade. As head of the General Agreement on Tariffs and Trade (GATT) ever since its creation in 1948, he earned a reputation as a trusted and respected mediator. But when cooperation eluded him, the outspoken Briton's most characteristic tactic was a blunt threat to quit. And often enough, that threat got him what he wanted...