Word: tariffs
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Carl J. Friedrich, professor of Government, called Kennedy's tariff-cutting requests "a major act of statesmanship," but said it is "anyone's guess" whether Congress will give him the authority he requested over tariff rates...
...tariff-reduction authority President Kennedy requested in his State of the Union message is receiving wide support among members of the Government and Economics Departments...
Arthur Smithies, Nathaniel Ropes Professor of Political Economy, added another reason for low tariffs, saying that the "development of African and Latin American countries is highly dependent upon low tariffs both in Western Europe and the United States." Agreements to lower import duties with the Common Market nations would soon extend to Africa and Latin America via "our most favored nation" tariff policy...
...when a U.N. economist. Argentine-born Raúl Prebisch, got six Latin American nations to talking about forming a common market. That kind of thing was all right for a well-developed Europe, they said, but backward Latin nations were too accustomed to protecting national industries with high tariff walls. And since a major slice of every government's revenue came from import and export duties, they could hardly be expected to agree on mutual tariff cutbacks. But last week seven Latin nations * brought their common market to life by simultaneously cutting tariffs against one another...
...Canada's present unsettled mood and its concern for its economic future. As a relatively underpopulated (18 million) young nation with vast natural resources, Canada must trade to grow, and Britain's prospective entry into the Common Market, perhaps bringing an end to its cozy Commonwealth tariff preferences, is a source of anxiety.How deep the anxiety goes was indicated last fall at the Commonwealth conference in Ghana, where a Canadian Cabinet minister bluntly warned the British that their Common Market entry "could weaken the Commonwealth to a point where it exists in name only...