FOREIGN TRADE: Alarm Sounded

Few nations are as dependent on a single product as Switzerland is upon its world-famed watches. The manufacture of precision timepieces employs 10% of its labor force, accounts for 22% of the nation's total exports. The U.S. takes more than half of this total, thus provides Switzerland with dollars that help make her economy the soundest in Europe. Last week the usually complacent Swiss watchmakers were wound up tight as an over-stressed mainspring. The U.S. Tariff Commission had reportedly recommended to Harry Truman that duties on Swiss watch movements be raised. This...

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