Word: tariffers
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...state where oil is king, Reagan also lambasted the bill signed by Ford in 1975 to roll back the price of domestic oil and to remove the $2-per-bbl. tariff on imported oil. Reagan called for a repeal of the bill and an end to all price controls so that the U.S. would produce more oil and rely less on imports from the Middle East. "How many Texans will lose their jobs?" he demanded. "How many Texas plants will be closed during the next oil embargo?" In the oil-rich Panhandle, some producers felt betrayed by the President...
Results will not be lightning fast even now. The negotiators have given themselves until the end of next year to wrap up an agreement, and they will need the time. The tariff problem is only the first that must be resolved. In the past, the U.S. has advocated "linear" tariff cuts (reducing all tariffs by the same percentage); Europeans have wanted "harmonization" (extra-deep cuts in the highest tariffs). Even though tariffs in both the U.S. and the Common Market average between 9% and 10%, Europeans argue that U.S. duties are unevenly distributed between very high and very low rates...
Another difficulty: the U.S. insists that its tariff-cutting formula be applied to agriculture as well as factory products so that American farmers can sell more food in the EEC. The Europeans consider their protectionist Common Agricultural Policy (CAP) a cornerstone of European unity and are reluctant to tamper with it. Even so, some sort of basic agreement on a tariff-cutting formula should be possible by this fall...
...round trip and from $968 to $1,010 for a New York-Rome return economy ticket. Hikes in excursion fares used most frequently by tourists were somewhat smaller. A summer "peak season" 22-to 45-day New York-London return ticket will rise $34, to $527, and the prepaid tariff for tickets ordered two months in advance will increase...
...LDCs insist on tariff preferences for their exports and that the First World ban production of potentially competitive synthetics and substitutes. The purchasing power of the poor should be protected from any sharp decline in the value of their community exports by "indexing"-setting a fixed relationship between the price of the developing countries' raw materials and the price of the First World's manufactured goods...