COMMON MARKET: The Barriers Dip

Still on its timetable, the European Common Market last week cut tariffs between its six member nations another 10%. The second 10% cut since the market got going, it will be followed by a third at the end of the year. Import quotas will not be completely abolished until the end of 1961, but voluntary liberalization has already brought free flow of a big range of industrial and consumer goods. The system is working so well—trade among the Six was up 29% and trade with the rest of the world up 8% last...

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