Word: tariffs
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...take effect in December, but it is Britain's chief hope for further trade improvement in the months to come. Whatever gains it may bring, the surcharge has already dimmed Britain's honor and prestige because it violates the country's trading treaties. Stunned by the tariff, which cuts their exports to Britain, officials of the six other EFTA nations revived the bitter chant: "Bri tannia waives the rules." Admits a British foreign officer: "We probably violated at least 18 international agreements with the surcharge...
...past, Connor has argued against the Johnson Administration's effort in current Geneva negotiations to reduce tariff barriers across the board by 50% . Last week, after his appointment to the Cabinet was announced, he was still reluctant to back down. Said he: "I consider myself at the midpoint between a strict protectionist and an all-out free trader. I am against arbitrary 50% tariff cuts across the board for U.S. manufactured goods. Each reduction should also be made on a reciprocal basis with foreign competitors...
...representatives of the Common Market, the U.S., and ten other nations faced Eric Wyndham White, the British executive secretary for the General Agreement on Tariffs and Trade (GATT). One by one, they presented folders bearing the all-important list of goods they wish excepted from the upcoming series of tariff-cutting talks. It was, said Wyndham White, "a historic moment." Cars & Food. In history's most ambitious effort to expand world trade, the Kennedy Round aims at cutting all tariffs among the 64 members of GATT up to 50% now, and eventually eliminating them entirely. Such cuts would enable...
After insisting that Europe must reach a common agreement to cut farm tariffs before it would negotiate about industrial tariffs, the U.S. recently relented and urged that tariff talks proceed, for the time being, without a common agricultural policy. Last week France agreed to give the Germans, whose high grain prices have proved a stumbling block, more time to come to terms. That seemed very magnanimous of the French-but they had something up their sleeve. When the Common Market Commission met in Brussels and proposed that the Six adopt a compromise list of 210 exempt items involving about...
...average 30% (v. the U.S.'s 23%, Britain's 16%), and their exports to one another have doubled. France has done much better than the average; its exports to the Market countries have nearly tripled, to $3.1 billion. If France is too protectionist to want any meaningful tariff cuts, it nonetheless could turn the market into a narrow, inward-looking organization. And if it persists in its demand for a lengthy exception list, it may well bog down the Kennedy Round for many more months...