The world's most formidable new economic community is rapidly and inexorably taking shape.
On New Year's Day, besides carrying out their third round of internal tariff reductions in a year, the European Economic Community's six members made their scheduled first move toward building a common tariff wall against the rest of the world. France and Italy, both high-tariff countries, lowered their duties the first agreed notch, Germany and the Benelux countries raised theirs a bit. By 1966 the Community, more familiarly known as the Common Market, should be fully operative. Then Italian Fiats and German Volkswagens, for instance, will be...
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