Word: tariffers
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High up on the list of American complaints is the sluggishness with which Japan has moved to live up to the trade agreement that was concluded with the U.S. last January. That pact pledged Japan to cut tariff walls and quotas, with the aim of bringing U.S.-Japanese trade back into balance by 1980. But there have been few signs that the promises are being kept, and trade hassles with the Japanese are still regularly in the headlines (last week's concerned Japanese import quotas on American beef and oranges...
...every constituency of the old Democratic coalition, and practically everybody else as well. He gave in to-or actively encouraged -increases in the minimum wage, Social Security benefits, veterans' benefits, farm subsidies, civil service pensions, grants to states and a plethora of other payouts. He acceded to tariff increases or stricter import limits on sugar and steel, TV sets, CB radios and other products, thus sheltering domestic producers from competition and enabling them to get theirs-by raising prices...
Whether they can or cannot do so will depend largely on the cheap fares. They are so low that carriers must continue to attract more passengers just to break even. The airlines are now making sizable profits because six out of ten passengers are still paying the regular tariff, and those fares provide enough revenue to cover the expenses of the flight. Hence, proceeds from the low-fare passengers, who fill up the remaining seats, are gravy...
...small step toward increasing its imports, Japan has recently lowered tariffs on some 124 items, worth about $2 billion. But about a third of the reduction was on shrimp, which the U.S. does not ship to Japan. Tariff cuts on other items were also slight; the duty on computers was dropped from 13.5% to 10.5%, on color film from 16% to 11% and on tires from...
...clashes. At conference after conference, LDCs have demanded a "new international economic order" involving vaguely defined transfers of wealth from North to South. Sometimes these demands have focused on acceptance of cartels that would jack up the prices of raw materials, sometimes on insistence that rich countries give preferential tariff treatment to products from LDCs. Poor-country spokesmen have accused multinational companies of ripping off their resources and proclaimed a right to nationalize them, while contending that multinationals have some kind of obligation to step up investment in the LDCs. Through all these assertions has run a consistent theme...