Word: tariffs
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...custom smelters, in December, lasted only three weeks when the price dropped back, subsequently fell 2? more. Demand is still sluggish at the 25?-a-lb. level asked by major domestic producers, and Western Congressmen are still talking about a sick industry and pressing for a 4?-a-lb. tariff, placing the "peril point" where the tariff would go into effect at 30? (TIME, Feb. 10). While producers feel that the users' inventory liquidation is about over, higher copper prices can come only with a pickup in demand by major copper consumers...
Free-traders won a victory last week that brought happy news to Japanese makers of stainless-steel flatware (TIME, March 3). Though the Japanese captured a big chunk of the U.S. market last year, President Eisenhower rejected a Tariff Commission recommendation for sharp duty boosts that would have raised prices of the Japanese ware in the U.S. by an average 35%, might have kept it out entirely. Instead, the President accepted Japan's promise to hold exports to the U.S. this year to the 1956 level of 5.9 million dozen pieces (v. 7.5 million dozen...
From a big Los Angeles maker of ceramic dinnerware, also confronted by rising Japanese imports that took over a big piece of the U.S. market in 1957. came a refreshing tactic last week. Instead of protesting to the Tariff Commission. Gladding, McBean & Co. (annual sales: $35 million) made a deal with two of Japan's biggest producers-Nippon Toki and Toyo Toki-to become sole U.S. distributors of their products. Gladding. McBean will market the Japanese dishes at prices slightly below its own products...
...quiet them, the Japanese last October promised to cut back future imports to the 1956 total. It was too late. Before the Tariff Commission. U.S. makers of stainless steel flatware pointed to the fact that 558 workers in their own small industry of 21 companies had been put out of jobs, though total employment of 2,522 was still above what it was before the import upsurge. The U.S. makers wanted stainless-steel imports from all countries slashed to 10% of the current total. Instead, the Tariff Commission recommended duty boosts to President Eisenhower that would raise Tsubame prices...
Mayor Tamaki argued that the proposed tariff will drastically slash Tsubame's exports to the U.S. and bring economic disaster to his city. (Canada, another Tsubame customer, may also raise its tariffs if the U.S. does.) But no one in Washington could give the delegation much encouragement that the tariff would not be raised. Said Tamaki: "I simply cannot believe that you Americans, if you knew the facts-and realized that the signing of this Tariff Commission recommendation would mean the ruin of 50,000 people who think, live and believe in the same principles you do-would allow...