Word: tariffers
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...only upset U.S. steelmakers but also brought the U.S. Government into the argument. Acting under a 42-year-old U.S. anti-dumping law, the Treasury Department last month ruled that Belgium, Germany and Luxembourg had been dumping wire rods in the U.S., turned the case over to the Tariff Com mission for a final ruling next month. Because the Tariff Commission can boost duties retroactively, many American importers have slashed their buying just to be on the safe side. One result: imports of some German steel products are running 75% below normal rates...
...half years ahead of schedule, the Common Market nations voted another 10% slash in each nation's customs duties on industrial imports from other members of the community, and agreed to cut by 20% the average tariff on a wide range of industrial goods imported from outside the Common Market. The latest reduction was intended as a good-will gesture on the eve of tariff-cutting negotiations with the U.S. in Geneva next month. However, what the U.S. is primarily anxious to secure at Geneva-its European market for agricultural exports-will not be up for negotiation, since...
...foreign policy is the other. More than 50 countries have virtually embargoed U.S. textile imports by one means or another. Japan last year exported 135 million yds. of cloth to the U.S., but permitted U.S. imports of only 490.000 yds. The State Department resists imposing stiffer import quotas and tariffs because it does not want to damage the economies of nations that the U.S. is trying to prop up. When President Kennedy himself proposed an 8?-per-lb. tariff increase on imported cottons to win cotton-state support for his Trade Expansion Act, he was turned down by the usually...
...Conservative Party, which formerly based its appeal on close ties with the British Commonwealth and a high protective tariff against the United States, must now redefine its position, according to Conway. So too the Liberal Party, which prided itself on its "understanding of the Canadian role in North America...
Aluminium comfortably skims tariff barriers because it is a low-cost producer, benefiting from Canada's lower-wage labor, devalued dollar and abundance of cheap electric power. Harnessing the remote Saguenay River, Aluminium cut into the trackless wilds of northern Quebec to build the dams that now power the smelter at Arvida (a contraction of Arthur Vining Davis). For the still bigger Kitimat power project in British Columbia, it carved a ten-mile tunnel into a mountain, created a waterfall 16 times as high as Niagara Falls and built a smelter with an awesome annual capacity...