Word: tariffers
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...problems of freer trade. Last fall the Randall Commission on Foreign Economic Policy began studying, came up with a program that President Eisenhower called a "minimum." It included a modest recommendation for a three-year extension of the reciprocal-trade act. Now, faced with opposition from the G.O.P. high-tariff bloc in Congress, the Administration has backed down, is asking for only a one-year extension-and more time for study...
Scissors & Shears. A dozen U.S. industries have complained of imports reaching the "peril point" (at which they are theoretically injured or threatened), and have applied for relief through higher tariffs. Two weeks ago, the Tariff Commission sent its recommendations to the White House on two such cases-one involving fish fillets, the other scissors and shears. Recommendations on the other ten cases are due soon...
Last week, nonetheless, the President decided against protectionism in the case of scissors and shears. The Tariff Commission had found that imports from Germany and Italy constituted "a definite threat of serious injury," and recommended doubling the present 42% tariff. President Eisenhower canceled the increase on the ground that no imminent threat was proved. Among the other cases: ¶Fishermen are aroused by groundfish fillet imports (largely from Norway, Canada and Iceland), up from 9,000,000 Ibs. in 1939 to 107 million last year. ¶ Lead and zinc producers complain of shutdowns and layoffs in U.S. mines because...
Political Peril. The President's decision on one current tariff case-the $58 million annual trade in Swiss watches and movements-will directly affect one Republican Senator up for reelection, Massachusetts' Leverett Saltonstall, who has several watchmaking companies in his state. The Swiss make17-jewel movements for around $4, less than half the U.S. production costs, and outsell American makers nearly 4 to 1 (8,600,000 to 2,300,000 annually...
...Communist propaganda. What makes the situation particularly dangerous is the impending drop of nearly three and a half billion dollars in aid. In order to keep the dollar gap closed, foreign countries will be forced to increase their restrictions even further. If it were not for the U. S. tariff barriers, Europeans could make up their dollar deficit by selling goods on the American market...