Word: valorem
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Dates: during 1954-1954
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...Authorize the President to slash existing tariffs to not more than 50% ad valorem at his discretion...
...Tariff Wall. Yearly, the U.S. imports about $11 billion worth of goods: of these, half enter duty-free, and two-fifths pay duties of less than 30%. Yet cheap sun glasses pay 335.7% ad valorem, pocket knives with folding blades 89.5%, concentrated lemon juice...