Word: surtax
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Dates: during 1961-1961
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...tightening tariff barriers to favor agriculture and mining at home. The Latin Americans themselves further hamper things by placing restrictive measures on exports in the misguided notion that they are encouraging local processors and manufacturers. Brazil sometimes sets quotas on cotton and sugar exports; Uruguay imposes a 20% surtax on export wool. Other nations peg their export prices without making any provision for the inflation that gallops through most of Latin America...