Word: valorem
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...Brancusi's bird had neither head, feet nor feathers. It was four and a half feet of bronze which swooped up from its base like a slender jet of flame. Customs Inspector Kracke said it was not art; merely "a manufacture of metal . . . held dutiable at 40% ad valorem." The press bantered, jibed. Indignant modernists wrote abstruse, defensive paragraphs. Sculptor Brancusi complained to the Customs Court...
Sudden and drastic was the passage by the German Reichstag, last week, of a bill raising the duty on imported automobile parts from 12% ad valorem to 28%. Enacted to take effect on Jan. 15, 1928, the new measure loomed, last week, as a deadly threat to five U. S. motor manufacturers* which have recently spent $12,000,000 on assembling plants and the development of sales organizations in Germany. Officials of the threatened U. S. group said, last week, that they had had a "working agreement" with the Ministry of Commerce that no such bill would be passed...
Fordney-McCumber Tariff. Typical of U. S. tariff rates on French exports are works of art (under 100 years old), 20% ad valorem (that is, upon the U. S. valuation), silk wearing apparel, average of 60%; walnuts (France exported $4,861,000 worth to the U. S. last year) 4¢ per pound unshelled, 12¢ shelled; precious and semiprecious stones (not including pearls), 10% ad valerem on uncut stones; perfumes containing alcohol 75% ad valorem plus 40¢ a pound; perfumes not containing alcohol 75% ad valorem; soaps and soap preparations from 15% to 30% ad valorem. These are the chief French...
...trade?per-fumes, toilet wares, gems, fake and real. In other words, what she is trying to force is the acceptance of the principle of reciprocity. If the U. S. refuses to lower its tariffs, the French rates will stand. The French rates now roughly approximate, on an ad valorem basis, those levied by the U. S. "Cut your tariffs and we will cut ours," is virtually the French slogan. However, the U. S. tariff law was expressly designed to guard against reciprocity and its provisions are not capable of modification without the consent of Congress in the form...
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...