U.S. TARIFF

Taranaki Daily News, 4 July 1921, Page 5

U.S. TARIFF

- DETAILS OF NEW BILL, LARGE REVENUE expected, NQ feEIAUATOBY PROPOSALS, Bj Telegraph.—Press Assn.—Copyright, Received July 3, 11.30 p.m. Washington, June 30 (delayed). The Permanent- Tariff Bill has been introduced in the House. No official estimate of the revenue has been made, but members of the committee expect seven hundred million dollars annually —more than double the amount produced by the Payne Aldrich law. The wool schedule in the new law shows material reductions in many instances. Hose and gloves are taxed thirty cents a pound, with 25 per cent, ad valorem; knit fabrics twenty-five cents a pound and 20 per cent, ad valorem. The lumber schedule, as originally drawn out to the committee, heeded the Republican appeal to keep finished lumber on the free list, buttaxed shingles. The free list includes printing paper, wool pulp, leather, harness and agricultural implements. The duty is raised on the great bulk of imports already taxed. The committee reverses its decision by putting thirty-five cents a barrel on crude oil and twenty-five cents on fuel oil. The retaliatory proposals have been dropped, but if any country taxes free list goods, the President may negotiate for its removal, failing which he can declare an equal duty on a product from such country. The Bill also provides machinery for three years’ control of dye importations.—Aus.-N.Z.. Cable Assn.