Word: tariffs
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...curb the swelling imports of wool and worsted materials, notably from Italy and Japan, the U.S. laid down new tariffs last week. They will replace a complicated quota and tariff system in force since 1956, which, a tariff commission official candidly confessed, had "fouled up the wool trade from one end to another...
...offering the electorate a republic Verwoerd promised that South Africa would be readmitted to the Commonwealth as a republic, on the same basis that Ghana and India were. He did this to assure the voters that South Africa would not lose the trade benefits it enjoys through the tariff concessions accorded to all Commonwealth countries...
...July, when the Outer Seven put into effect its first mutual 20% tariff reduction, the effect on Finnish trade was instant and disastrous. In Britain, Finland's best market, Finnish lumber and paper exporters ran into big trouble from Swedish and Norwegian competition, had to drop prices by as much as $5.60 a ton. Kekkonen, never very popular, was soon in bad political trouble. Last week Nikita Khrushchev decided the time had come to drop in and give him a hand...
...audience, he seemed to respond more enthusiastically, to work up more steam. At one point he talked as though the rest of the nation wasn't listening, hinting broadly that trade protectionism could solve New England's industrial decline-an attitude quite different from the Democratic low tariff stance set by F.D.R. Said Kennedy in Manchester: "We can protect our textile and shoe industries...
...boycott of South African goods by Ghana. Malaya, the West Indies and others. And all South African businessmen are haunted by the fear that if Verwoerd proclaims a republic, other Commonwealth members may reject South Africa's request to remain, nonetheless, within the Commonwealth and its preferential tariff system...