Word: tariffers
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Exactly three years after army tanks crushed the pro-democracy movement in Beijing, George Bush notified Congress that he is again granting China most- favored-nation status, which provides the lowest possible tariff rates. The measure also helps China to a $12.7 billion surplus in trade with the U.S. "It is wrong to isolate China," Bush argued, "if we hope to influence China...
...ELABORATE TARIFF NEGOTIATIONS CALLED the Uruguay Round finally fail, world trade and most major economies will suffer. For months the talks under the General Agreement on Tariffs and Trade have been staggering from one purported last try to another. Again last week no one dared call it failure when a crucial meeting among George Bush, European Community President Jacques Delors and Portuguese Prime Minister Anibal Cavaco Silva ended in impasse...
...activity as "intracompany" sales, exports to a corporation's own foreign affiliates. These exports, which account for more than a quarter of all U.S. trade activity, simply fell through the cracks. On the other side of the ledger, however, the government's accountants were diligent indeed in totting up tariff-producing imports. "In terms of international competitiveness," says economist Robert Baldwin, chairman of the panel, the study suggests that "we are not doing as badly as the trade figures indicate." So the good news is that Americans are more competitive than they thought. The bad news is that they...
...desire to pull back from foreign entanglements is an enduring part of the American psyche that rears up whenever the nation tires of exertions abroad. After World War I, the U.S. rejected membership in the League of Nations, adopted a restrictive immigration policy and eventually enacted high tariff barriers. It took Pearl Harbor and then communist expansionism to make internationalism the basis of U.S. foreign policy. Even during the heyday of the effort to contain communism, "the public never fully bought the challenge," says Thomas Mann of the Brookings Institution. "Only a bipartisan consensus among elites kept the country...
...State James Baker visited Beijing last month, China promised to at last sign the nonproliferation treaty before April 1992. Yet it has refused to promise that it will stop anything it is now doing. But some U.S. politicians think a credible threat by Washington to do away with favorable tariff treatment for Chinese goods might be effective. The theory is that China would lose more money because of lower exports to the U.S. than it would gain through further nuclear sales. Democratic Senator Joseph Biden of Delaware goes so far as to say that "we must, in extremis, be prepared...