Word: tradings
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Dates: during 1940-1949
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After seven months of weary dickering, the world's great trading nations, led by the U.S., took a long step toward improving the channels of free world trade. This week the State Department published a massive (230-page) report, summarizing the results of the 23-nation Geneva conference on tariff barriers (TIME...
...Geneva conference did more than just slash tariffs. It chopped hard at the hedgerows of other national restrictions which impede trade. One basic principle adopted by the conferees was the provision that all the negotiators would benefit from, any tariff cuts granted. They also put a ceiling on such restrictive regional agreements as the British system of lower rates within the Empire...
...agreements, good for three years, will be put into effect provisionally on Jan. 1 by eight nations, including the U.S.; will become final when countries controlling 85% of the trade involved deposit their acceptances with...
These accomplishments were the nearest approach yet to the great dream of free world trade, long plugged by Cotton Millionaire Will Clayton, who resigned last month as Under Secretary of State for Economic Affairs. But despite the Geneva agreements, Will Clayton's dream was still little more than a dream...
...exchange controls, import quotas and other dollar-saving devices. In a world where dollars are short everywhere, that meant that tariff reductions now would probably not amount to much more than a one-way street into the U.S. for foreign exporters. If a rebellious Congress fails to renew the Trade Agreements Act next June, the other end of the road will soon be closed again...