Word: tariffs
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...fluctuating commodity prices. They also aim to pressure the Communist countries, which now take scarcely 5% of their exports, to buy more. And they want the industrial powers not only to lower their barriers against imports of manufactured goods from the backward nations, but also to give them preferential tariff treatment and to subsidize their state-planned programs for industrialization-without getting anything in return...
...make instant, front-page news, the European Common Market has only to cut a tariff or cry "Yankee chickens, go home!" What goes largely unreported is its statesmen's cautious groping toward the political unity for which economic integration is the essential groundwork. Last week, just one year after Charles de Gaulle abruptly scotched Britain's bid to join the Common Market, France's partners were once more engaged in an earnest attempt to bring Britain into an outward-looking, integrated Europe. Highlights...
Last week, in a protectionist move that contrasts with recent tariff-cutting efforts, the tariffs on steel imports into the Common Market were raised to a standard 9% (they now range from 4.5% in The Netherlands to 9% in Italy). What made the hike all the more remarkable was that members of the Common Market had disagreed so long and so furiously about it that the supranational European Coal and Steel Community, which is made up of the same six nations but has remained autonomous, stepped in and imposed its own decision on them...
...several meetings over the last two months, France, Belgium, West Germany and Luxembourg have argued strongly for the hike-though the French and Germans disagreed over whether it should be subject to change in the upcoming round of tariff negotiations with the U.S. But Italy and The Netherlands wanted none of it. High-tariff Italy sees no reason to expose its steelmakers to the same competition as the others face. With very little steel of its own, The Netherlands naturally wants to keep prices low. The Dutch-Italian intransigence completely deadlocked last week's meeting of the national ministers...
...Community's High Authority, which has the power to overrule its member nations, hastily met. It took only 15 minutes before High Authority President Rinaldo Del Bò, himself an Italian, emerged to announce that "with deepest regret" the High Authority had found it "indispensable" to raise the tariff on steel. That gave the higher-tariff backers the right to put the new rates into effect immediately, although those that oppose them can still appeal for a judgment by the Common Market's Court of Justice. The court could overrule the High Authority's decision only...