Public Policy: King Cotton's Ransom

President Kennedy has been fighting conspicuously for lower tariffs. But to win Southern congressional votes for his trade program as a whole, the President is reverting to unabashed protectionism for the tattered textile industry. Last week, amid howls of protest from textile-shipping Japan and Hong Kong, the U.S. Tariff Commission was considering Kennedy's call for an 8½¢-per-lb. tariff on imported cotton textiles. Simultaneously, the Administration was pressing 19 textile-producing foreign nations to sign a five-year gentleman's agreement that in effect would freeze foreign exports of cotton textiles to the U.S. at...

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