Word: tariffers
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...dealing has some Republicans who favor NAFTA hinting that they might bolt. Last Friday Representative Tom Ewing of Illinois asked Clinton to forgo a new $5-a-seat tax on overseas air travel to help offset lost tariff revenues. New taxes, said Ewing, could be NAFTA's "death knell...
Defying President Clinton, David Bonior, third-ranking Democrat in the House, said he would use his majority whip's office to organize opposition to the North American Free Trade Agreement, which would eliminate tariff barriers between Canada, Mexico and the U.S. Democrats are already badly split on the pact...
...regards to multinational environmental decision making, clearly the end of ad-hoc incremental environmental policy making is in sight. Trade promotion, though, is not incompatible with environment-enhancing activities. Incorporating both issues should not be an impossible task. We must, however, be cautious about using environmental regulations as non-tariff barriers...
Consequently, it was Miyazawa who made the key concession that led to the summit's greatest achievement. When Miyazawa overruled his Finance Ministry to announce that Japan would eliminate tariffs on "brown" liquors such as whiskey and Cognac, all the pieces fell into place. The seven signed off on the greatest tariff reductions ever achieved through international agreement. In addition to those on some liquors, tariffs will be wiped out on pharmaceuticals, construction equipment, medical equipment, steel and beer. ("Does this mean I get a better price for Molson's back in Washington?" Clinton joked to an aide. Probably...
...GATT have been widely acknowledged. It will help to reinvigorate a stagnant global economy. This translates into a profit of about $120 billion, one half of one percent of today's gross world product. Since its inception, the GATT has proved remarkably successful in orchestrating the reduction of world tariff rates, which have fallen from an average of 40 percent in 1947, to four percent today...