Word: tariffers
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...joining the European Community on Jan. 1, Spain and Portugal have declared an end to centuries of economic isolation. Their tariff walls will gradually be dismantled, and the two countries will take on both the risks and rewards of in creased trade with their neighbors. For an assessment of what this change will mean for the economies of Spain and Portugal, TIME invited Jose Luis Leal, Spain's Minister of the Economy in 1979 and 1980, to the Madrid meeting of its European Board of Economists. His conclusion: Spain and Portugal might suffer a few short-run shocks from...
...backing up the tough talk. Within the past 10 days, the U.S. has twice imposed limits on apparel imports from China, and Congress is considering a 27.5% tariff on all Chinese imports. Those shipments were up 54% in the first quarter over the same period last year, after the Jan. 1 removal of quotas on textile imports--an event for which the U.S. had a decade to prepare...
Americans continue to voice support for protectionism. Given the choice between a policy of quotas and tariffs rather than reliance on free trade, 57% chose the former course. More specifically, 53% approve of a proposal to impose a 25% tariff on goods from countries that have a large trade surplus with the U.S. The poll found that 63% support such measures against Japan. For Democrats desperately seeking to steal some of Reagan's almost magical popularity, these figures could represent a dangerous temptation. Already, feeling appears to be growing in favor of raising the tariff walls as a quick...
...make more of those goods available will reduce his country's burgeoning surplus with the U.S. But if the program fails to show quick results, Japan may face retaliation. Congress has before it a stack of protectionist bills, including a measure to add a 20% across-the-board tariff to imports. --By Janice Castro. Reported by Gisela Bolte/Washington and Edwin M. Reingold/Tokyo
...doesn't apply to everyone all the time, but you need to have a business model that's sustainable in the face of a growing China." From his office, Ian Campbell looks out on a vista of marooned shipping containers and the rusting industrial landscape of western Melbourne. Tariff cuts have taken a toll, to be sure, but most heavyweight manufacturers have decamped for China, leaving the country's industrial and engineering heartland as a distribution hub and home to small, parochial players. If you want to get the friendly Campbell really riled, ask him about bilateral trade deals...