Word: truce
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...counterbalanced by special tariff increase. Thus if a 2? per Ib. tax was placed on butter, 2?would have to be added to the regular butter duty to prevent importers from underselling the U. S. market. But President Roosevelt had agreed without reservations to a general tariff truce, accepted last week by seven powers and offered to 58 more, as a preliminary to the World Economic Conference in June (see p. 19). To apply the processing tax and the compensatory tariff would, he felt, break the truce. Thus income with which to operate one of the major features...
...very bright lexicon of diplomacy, few phrases are more useful than "in principle." Last week after a fortnight of preliminary bickering, seven nations- Great Britain, France, Germany, Italy, Belgium, Norway, Japan-accepted "in principle" the tariff truce proposed by President Roosevelt, and signed an agreement to that effect. Its second sentence...
...disarmament proposals at Geneva, because the two countries have long seen eye to eye on most international issues, President Roosevelt and Minister Jung got on famously. President Roosevelt's principal objective prior to the June 12 opening of the conference in London is an all-round tariff truce so that all nations will start from the present scratch. Minister Jung gladly embraced this proposal. The Italian envoy argued that military disarmament must go hand in hand with economic disarmament. To this President Roosevelt heartily assented. They also agreed that "a fixed measure of exchange values must be re-established...
...opening of the World Economic Conference, the United States delegation will ask the Governments represented to join in an agreement to refrain during the period of the economic truce from making any material upward modification of tariff rates or enhancing any restrictions . . . against the importation of goods which would give domestic producers additional advantages over foreign producers...
...economic peace by his tariff policy. The Agenda Commission in its report flayed attempts at national self-sufficiency ("all seek to sell but not to buy"), manifested in retaliatory tariffs, embargoes, import quotas, export subsidies, and exchange restrictions which "throttle business enterprise." First objective at London is a tariff truce against more rate uppings. After that, attempts will be made to weed out such quota restrictions as Austria puts on tires and shoes, Belgium on sugar and silk knit goods, Germany on lard and butter. Last week France, sensing a turn in the tide, planned to lift quota restrictions...