Word: tariffers
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...meeting got off to a fast start as the ministers churned out a steady stream of "agreements in principle" on the pace and percentages of the first tariff cuts. They even went along with Uruguay's plea that "an acute economic and financial crisis" entitles it to be classed among the "less developed" countries for the next five years, despite the fact that its people normally enjoy one of the highest standards of living in the LAFTA region. But such happy harmony was soon shattered when the three other "less developed" nations-Paraguay, Bolivia and Ecuador-demanded that their...
...Cape Horn. Indeed, one of the conference's achievements was the approval of a regional subgrouping within LAFTA that will soon open up a free-trade zone embracing 50 million people. The so-called "Andino group" of Colombia, Venezuela, Ecuador, Peru and Chile will begin planning its tariff cuts next month. As for LAFTA, its diplomats will resume talks in November. If nothing else, they discovered at Asunción just how much work there is to be done...
United States diplomats and economists have struggled for years to achieve a significant international move toward trade liberalization. The recently-concluded Kennedy Round of tariff-cutting negotiations, which was a momentous advance for the U.S. and many other nations, required much bargaining and arm-twisting. In the end, the U.S. received tariff-reduction commitments at least equal in value to those it made. The final result is a balance of mutual opportunities that should greatly stimulate and increase international trade. The advantages to all countries involved are undeniable...
...system uses the American price to evaluate chemicals rather than the importing company's price. The American price is usually higher, thereby artificially raising the value of the import on which the tariff is placed. It was a defensive measure used against Germany in the First World War, and once established it never relented. Nations at the Kennedy Round were, understandably, insistent upon the abolition of this discriminatory practice. Because they did not have specific authority under the 1962 Trade Act to abolish it, the U.S. negotiators agreed tentatively to seek abolition, in return for more concessions from the Common...
These arguments are wildly exaggerated. The affected sector of the chemical industry is strong and has always thrived in international competition. Anyway, the new rates of duty in the Kennedy Round agreement provide a comfortable level of tariff protection, according to most impartial economists. And the level of protection is well above the other major chemical-producing countries. Still Congressional trade expansionists will never convince their fellow chemical protectionists, and the passage of an ASP repeal motion is questionable...