Word: trade
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Dates: during 1950-1959
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...original Eisenhower Cabinet,* Massachusetts Manufacturer Sinclair Weeks was a voice of oldfashioned, pre-Eisenhower Republicanism. But he grew in the job. A deep-dyed member of the old school that considered tariff protectionism a fundamental GOPrinciple, he became Washington's most improbable convert to freer trade, led this year's winning Administration fight to wring a broadened reciprocal-trade bill out of a reluctant Congress...
Catching Up with the East. At the North Caucasian city of Stavropol he loosed a proud thunderbolt: "When the figures for the Soviet Seven-Year-Plan (1959-65) become known, the whole world will be amazed at the prospects of the development of the socialist society." From Trade Union Chief Viktor Grishin in Moscow came a few figures to match, promising to achieve by '65 what had originally been targeted...
When the common market idea first came up, the British saw a surer future in their own Commonwealth and held aloof from any such untried continental combine. But to safeguard their European trade stake, they cooked up a plan for a wider, 17-nation Western European "free trade area" which would include the inner six and would also start in business on Jan. 1. Last week, at a showdown meeting of representatives of the 17 free trade area nations in Paris, the French threw up such a solid wall of resistance that the British feared for their chances of keeping...
This fear came just as the British were celebrating, in mannerly fashion, the fact that for the first time in this century they succeeded in closing their trade gap in the first half of this year. Achieving a $383.6 million surplus of visible exports over imports was a satisfying feeling, even if the victory was apt to be temporary and was largely owed to the currently depressed price of raw materials. When the common market comes into being, however, they will be faced with a probable 29% duty on all English cars they hope to sell on the Continent. This...
...Market. In Paris last week the French tactic was to propose what the British presumably could not accept-that the 17-nation area become the same sort of tightly preferential trade club with common tariff walls as the French expect the six-nation community to be. That, of course, would require the British to throw over their whole imperial preferences system of trade. Behind this French position was heavy pressure from French industrialists and farmers to stick with the six-nation community now that the West Germans and other members have conceded them practically all the special protections and privileges...