Word: valorem
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Dates: during 1950-1959
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TYPEWRITER IMPORT BAN is sought by U.S. typewriter manufacturers. The Tariff Commission will investigate a petition from Smith-Corona Marchant and Royal McBee asking for a duty of 30% ad valorem per foreign machine, with a minimum fee of $10. Main reason: imports account for a disproportionate 30% of the U.S. market...
IMPORT QUOTAS are being put on woolens and worsteds by President Eisenhower, will help struggling U S. textile industry somewhat but hurt British exporters. Imports above 14 million Ibs. a year will be taxed at 30? to 37½? a Ib. plus 45% ad valorem, almost double the usual tariff. Britain alone sends about 10 million Ibs. a year worth $35 million...
...high-tariff advocates will go to protect home industry were demonstrated last week in a case involving imported violins. The Tariff Commission sent President Eisenhower a recommendation to treble the tariff on instruments valued by the foreign manufacturer at $25 or less. The proposed new rate: 52 ½ % ad valorem and $1.87 ½ each v. the current 17 ½ % plus 62 ½ each. Fiddle-faddle, said the President, vetoing the boost. He noted that violins and violas of this type are made by only one U.S. manufacturer, Jackson-Guldan of Columbus, Ohio, which employs 30 production workers. To protect them...
...allow each of the member nations to specialize in the goods that it produces best. If tariffs were abolished, for example. Britain's camera manufacturers might well be swept away in a flood ot superior German-made Leicas and Rollei-flexes (now subject in Britain to 50% ad valorem duty), but the host of new amateur photographers that would spring up once German cameras were cheaply available to all Europeans would buy a great deal more of Britain's excellent film...
...Authorize the President to slash existing tariffs to not more than 50% ad valorem at his discretion...