Challenge of Booming Foreign Industry
Growth of Economic Power in the Free World
Debate in congress on the bill to enlarge the President's tariff-bargaining authority will focus attention on the growing economic power of industrialized nations of the free world that compete with the United States in leading export markets.1 Western Europe has experienced phenomenal advances in industrial production since its recovery from the ravages of World War II. Further advances are expected as the European Economic Community or Common Market matures and takes in additional members. When the six nations which formed the community in 1957—Belgium, France, Italy, Luxembourg, Netherlands, West Germany—are joined by Great Britain and certain smaller countries, most of Western Europe will become a great unified trading area in which goods and ...