Word: valorem
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Dates: during 1920-1929
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Automobiles. The metals subcommittee of the Finance Committee heard potent motormen recommend a reduction in the automobile tariff from 25%, ad valorem...
Their mission: To defend or to abandon the 25% ad valorem tariff on imported automobiles, as specified in the tariff measure passed by the House of Representatives and now before the Senate. Their message: That the automotive industry would be well satisfied with a 10% duty. But countervailing duties* should be maintained and the 25% duty should remain on trucks, buses...
Automobiles. A movement within the committee was started by Pennsylvania's Senator Reed to reduce or eliminate the 25% ad valorem tariff on motor cars. Theory: this U. S. industry, with its huge exports, no longer needs protection. Motormen Henry Ford, Alfred Pritchard Sloan Jr., Alvan Macauley (Packard, National Automotive Chamber of Commerce) and Walter C. White, were among those invited to step forward and give their views on this change. When they failed to make prompt response, there was committee talk of subpoenaing them...
...free list brick was made dutiable at $1.25 per 1,000. A tax of 8¢ per 100 Ib. was laid on cement. While fir, pine, spruce and hemlock were retained on the free list, other kinds of lumber were put under the tariff, with cedar shingles paying 25% ad valorem. The Oregon shingle industry asked for protection against Canadian imports. Chairman Hawley of the Ways & Means Committee, also of Oregon, saw that it got what it wanted. Quick came the claim that the farmer's new profits under the bill would be immediately absorbed by increased costs in building material...
...Valorem. The valuation of imports under the new bill cropped up as a controversial problem. There are two bases of valuation, foreign and U. S. By and large the new bill retains foreign valuation, i. e., the value the foreign producer sets upon his article, or the price for which he sells it in his own country. But cunningly woven into Administrative language is a new threat against foreign producers who undervalue their imports to cheat the U. S. tariff. If the U. S. appraiser is not satisfied with the foreign valuation placed on an article for import...