TITLE

NEW HORIZONS IN FOREIGN TRADE

AUTHOR(S)
Diebold Jr., William
PUB. DATE
January 1967
SOURCE
Foreign Affairs;Jan1967, Vol. 45 Issue 2, p291
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article focuses on the changes in foreign trade policies of the U.S. Unless there is a new legislation, U.S. President Dwight Eisenhower will, at midnight on June 30, 1967, lose his power to cut U.S. tariffs in trade bargains with other countries. Eleven times already the country has faced the question of renewing the grant of power first made in the Trade Agreements Act of 1934. Each time, the U.S. Congress has prolonged the power, sometimes enlarging and sometimes reducing it. Tariffs on trade among the industrial countries have been reduced much more than is generally realized. Many are far lower than at any time since the depression or, in some cases, since the end of the last century. The U.S. has quite a few rates that are one-quarter of what they were in 1934 and many that are almost as low. Within the Common Market and the European Free Trade Area, tariffs will soon disappear. The last quarter of a tariff may be what really protects, so that it would prove harder to remove than the first three quarters. A 10 percent tax can be very important in a highly competitive market also, it may be equivalent to several times that much if what is being protected is only the cost of manufacturing, when raw materials are imported at low or no duties.
ACCESSION #
5800318

 

Related Articles

  • GATT AFTER SIX YEARS: AN APPRAISAL. Gorter, Wytze // International Organization;Feb54, Vol. 8 Issue 1, p1 

    This article presents an appraisal of the General Agreement on Tariffs and Trade (GATT) after six years. To the U.S. GATT is a step consistent with the march along the road to lower trade barriers that began with its adoption of the Reciprocal Trade Agreements Program in 1934. The bargaining...

  • TRENDS IN INTERNATIONAL TRADE: REVIEW ARTICLE. Richter, J.H. // Quarterly Journal of Economics;Nov59, Vol. 73 Issue 4, p576 

    The article examines the trends in international trade. The group of experts that was organized for the General Agreement on Tariffs and Trade is to make an assessment of the medium-term prospects for international trade in facts and trends including the expected increases in the level of...

  • global responsibility. Lynas, Mark // Geographical (Campion Interactive Publishing);Feb2004, Vol. 76 Issue 2, p40 

    Discusses means to reform the international trading system. Removal of tariff barriers which prevented exports in developing countries; Development of an economic model based on local and regional self-reliance; Re-introduction of import controls. INSET: The World Trade Organization.

  • �sia Oriental e Sudeste Asi�tico -- modelos para a Am�rica Latina? Sukup, Victor // Revista Brasileira de Pol�tica Internacional;dic1997, p27 

    The article analyses the growing influence of Asian economic models � from East and Southeast Asia � on Latin America as well as the possibility of their application on the later continente. Apart from that, it also shows some of the probable restrictions to the direct adoption of such...

  • Japan: Country Conditions: Climate for Trade.  // Political Risk Yearbook: Japan Country Report;2003, p45 

    Discusses trade regulations in Japan as of November 2002. Tariff and non-tariff barriers; Taxes and fees assessed on imports; Membership in international trade agreements.

  • DICKERING FOR FOREIGN TRADE. Taylor, Alonzo E. // Saturday Evening Post;6/16/1934, Vol. 206 Issue 51, p29 

    Discusses the foreign trade policy set forth by the U.S. Government in the promotion of foreign commerce between other countries. Potential effect on the decline in foreign commerce to the economy; Objective and overview of the foreign trade policy; Methods, tactics and strategy in promoting...

  • Italy: Country Conditions: Climate for Trade.  // Political Risk Yearbook: Italy Country Report;2003, p45 

    Discusses trade regulations in Italy as of December 2002. Tariff and non-tariff barriers; Taxes and fees assessed on imports; Membership in international trade agreements.

  • The Year-Two Waiting Game. USCBC staff // China Business Review;Jan/Feb2004, Vol. 31 Issue 1, p13 

    Assesses the foreign trade policies of China for 2004. Draft distribution services regulation; Tariff-rate quota system for agricultural products; Trading rights of foreign investors.

  • STEELING FOR A TRADE BATTLE. Benjamin, Matthew // U.S. News & World Report;11/24/2003, Vol. 135 Issue 18, p40 

    Discusses the challenge facing U.S. President George W. Bush on the issues of international trade, the steel industry, and import tariffs. The ruling by the World Trade Organization that let the European Union retaliate against American tariffs on imported steel; Outlook for the summit meeting...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sign out of this library

Other Topics