Word: tariffs
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...Niger, the dust clouds rise at midday to nostril level. They made no exception last week for the 13 African chiefs of state who met there to discuss the future of their Afro-Malagasy Common Organization (OCAM), including efforts to persuade the European Common Market to renew their tariff concessions. There was something else in the air, however, that proved even more pervasive than dust: the unmistakable presence of France...
While the first batch of Kennedy Round tariff reductions was going into effect last week, a wide assortment of other trade barriers loomed as high as ever. These are nontariff gimmicks designed to impede the inflow of foreign goods. Wine-producing France, for example, puts a crimp on bourbon and Scotch imports by prohibiting all whisky advertising. In Italy, foreign automakers find it difficult to buy prime time on the state-owned television. Switzerland not only restricts imports of milk products but gives special help-including price supports and low-cost feed-to Swiss dairymen whose cows graze in remote...
...sort of cut-rate fare or another, paying an average of only 4.350 a mile as against 6.750 a mile for travelers who paid full fares. Moreover, discount fares are costly to administer; sometimes they cause serious delays in ticketing and boarding while counter clerks rifle through tariff books in search of a cheaper fare among, for example, the 48 possibilities from New York to San Francisco. CAB recently allowed the carriers a slight curtailment in use plus a few small increases in "Discover America" excursion fares, which offer a 25% discount from regular round-trip coach fares but require...
...very best, its projection into the future implies a slowdown in the economic growth rate of the free world and a particular slowdown in continental Europe. At worst, it raises the specter of accelerating restrictions on capital flow and along with it those notorious handmaidens of capital control: tariff walls, trade wars and isolationist trade blocs. While these projected consequences have unpleasant economic results, the political reverberations could be awesome. We are marching steadily toward a dangerous confrontation between the rich and poor nations of this small planet. Together, the U.S. and Europe can avert tragedy. But without the cohesion...
Others besides Fiat are trying to sell them what they want. Common Market tariff reductions have brought increasing competition from abroad, and now Fiat, for the first time, is about to be challenged by an Italian firm. State-owned Alfa Romeo, which has decided to produce low-priced, medium-sized cars, is building a plant called Alfa Sud near Naples; it expects to turn out 300,000 cars annually...