Word: tradings
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Dates: during 1940-1949
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Geneva In the Spring. Since trade is a two-way street, that policy could not be conclusive. The importance of what the U.S. laid on the line would be measured in the end by what the rest of the world was ready to accept. The rest of the world had its own problems and objectives. But it was the U.S. which would make the first offer, and last week the rest of the world watched with closest interest...
...basis of the U.S. State Department's policy would be Cordell Hull's 1934 Trade Agreements Act. With that Act Hull had attacked the economic nationalism of high tariffs-not only in the U.S. but in all countries. Hull did not advocate unrestricted free trade but trade free of "malignant restrictions''; he demanded reasonable tariffs reduced reciprocally for mutual benefit. This was the delicate flower which Under Secretary of State Will Clayton now cultivated...
...April, Clayton's experts would go to Geneva, sit down with delegates of 17 other nations* and try to write the most ambitious contract for reciprocal lowering of tariffs the world has seen, and lay the foundation of an International Trade Organization. Every one of the 17 nations which will grant the U.S. greater access to their markets will be granted the same access to U.S. markets. Under the 1945 extension of the Trade Agreements Act, State can, without congressional approval, cut Jan. i, 1945 tariff rates...
...hurt by the war, is able to supply much that the rest of the war-racked world needs. The U.S. can be the fountainhead of international recovery. But if other nations are barred from U.S. markets by U.S. economic nationalism, they will be driven more & more to state-controlled trading, the malignancy which grew out of totalitarianism and two world wars. From Russia it now has spread over Eastern Europe, its economic virulence taking possession of politics and morals as well. It is the disease which destroys free enterprise. Clayton is convinced that the only way to save free enterprise...
...popular professional, Booth Tarkington belonged, with his friend Harry Leon Wilson, and Joseph Hergesheimer and a few others, to a class whose flair and craftsmanship in the 'teens and '20s of this century is worth another look, though serious critics have generally ignored them. Their trade was to please the public for a living. But while they worked the mine of the U.S.'s more comfortable legends about itself, they worked it sometimes with real honesty and beauty. The literary data on life in the U.S. since 1900 would be as incomplete without Penrod and Alice Adams...