Australia Cuts Import Duties
CANBERRA, May 22. Duties on more than 800 foreign import items will be reduced from tomorrow morning, the Trade Minister, Mr John McEwen, announced in a statement today. The statement said that a reduction of from 17J and 12$'per cent, to 7J per cent, on a wide variety of articles already admitted duty free from British sources would be the result of a customs tariff proposal introduced into Parliament today. Mr McEwen said that the items involved about a third of the customs and tariff list. The value of these goods from all sources last year amounted to £l6om. The statement said that the
items, all non-protective, covered a wide range of plant machinery, raw materials, and other producer goods. The reduction flowed from Australia’s freedom under the new trade agreement with Britain to narrow the preference margin to 7J per cent, where British goods entered duty free.
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Press, Volume XCV, Issue 28284, 23 May 1957, Page 13
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152Australia Cuts Import Duties Press, Volume XCV, Issue 28284, 23 May 1957, Page 13
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