Word: valorem
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Dates: during 1920-1929
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Cried Professor Gustav Cassel, Swedish economist, with as much emotion: "What is wanted is a general understanding of what is fair in the way of international protection. Say, for instance, we allow 20% or 25% ad valorem tariffs for the protection of living and wage standards. Surely all will agree that tariffs of 50% and 100% are not only unfair to world interests, but are uneconomic. If it costs more than 25% more to manufacture an article at home than abroad, give up making the article and let others make...
...Because the budget debate had not been completed with the last session (TIME, May 11, 18, June 8), the House went into committee on the budget. Premier Baldwin announced that the Government had decided to impose a 33 1/3% ad valorem duty on imported lace. A motion to that effect was accordingly introduced. Miss Ellen Wilkinson, Laborite, asked whether the Government had conceived a grudge against women. "First it was silk, now it is lace." The motion was carried...
American automobiles were in bond awaiting the expiration of the 33 ⅓% ad valorem duty imposed in 1915 as a war measure by Chancellor of the Exchequer Reginald McKenna. British manufacturers were gloomy at the prospect of having to compete on an equal footing with Americans. Great loss of business was envisaged. The decision to repeal the duties was contained in Chancellor of the Exchequer Philip Snowden's budget (TIME...
Last week the Imperial Diet passed a Government Bill raising the tariff on 250 luxury-articles by an additional 100% ad valorem duty...
...bran and other by-products of milling, 7½% ad valorem (present rate 15%; limits under the law, 7½%-22½%). The new tariffs will go in effect after April...