Word: tariffs
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Dates: during 1960-1960
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Secretary of State John Foster Dulles, aware of his own insufficiency in economic matters, recalled Dillon in 1957 to be Deputy Under Secretary in charge of economic planning, gave him control over foreign aid and the tariff and trade programs. In 1958 Dillon's testimony helped persuade a skeptical Congress to pass the longest (four years) extension of the reciprocal trade program in history. He has taken an extremely tough line on the necessity of eliminating discrimination against U.S. exports. His Tokyo speech in October 1959 was the first public U.S. threat of drastic steps to come...
...Percentage Ploy. Last week, in Toronto on the last lap of a tour that included hearings in eight Canadian cities, the O'Leary Commission was mulling over proposals that included establishment of a tariff to keep out non-Canadian publications, subsidies and tax benefits for Canadian magazines-and doing nothing at all. The commissioners had heard much testimony in favor of the Canadian publishers' thesis, but here and there another voice was raised. Sardonically noting that as a regional publisher he had to contend with the same competition from Canada's national magazines that they complain...
...billion in 1959 and $1.1 billion in 1958. Altogether, U.S. private investment abroad amounts to about $30 billion, 50% more than U.S. Government investment abroad. While the pace of foreign investments has been stepped up by a scramble to get into the Common Market area before the tariff walls go up, it is based more solidly on worldwide economic growth. Says Basil James, the American sales director of British Aluminium, which is 49% owned by Reynolds aluminum: "American business has become aware that the fastest-growing markets may be outside the U.S. To serve these markets we have...
...prodding. Western Europe as a whole has relaxed its barriers to U.S. exports enough to ensure that the surplus of U.S. exports over imports this year will be three times that of 1959. And across the Pacific even Japan, a nation that lives on trade but illogically maintains high tariff walls, has been gingerly softening its restrictions on U.S. imports...
Since 1952 Brookings has broadened its scope underable President Calkins, 57, onetime dean of Columbia University's School of Business. Passionately devoted to objectivity, its staffers tackle anything tariff reduction, the Federal Reserve or U.N. organization. The main product: books on any problem of "broad public interest," all of them the last word on a subject. With U.S. problems mounting, Brookings is now producing at least a dozen hefty volumes a year. In the works are books on everything from higher education to the 1960 election...