State of Business: Trade Fight: Round I

As a wary Congress prepared to open hearings on John Kennedy's" broad new bill to expand U.S. trade abroad, the President tried shrewdly last week to unstarch the protectionists' arguments. He released the facts and figures of the final tariff-chopping deal under the expiring Reciprocal Trade Agreements Act to show that his Yankee traders did very well indeed.

In a swap with 25 nations (mostly in Western Europe), the U.S. granted tariff cuts on imports that had a 1960 trade value of $2.9 billion, in return got tariff reductions on U.S. exports with a value of $4.3 billion. With Europe's...

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