The New York herald., 1922-01-13
Might Also Fix American
Valuation as Basis in
Import Duties.
END OF DUMPING SOUGHT
Aims to Meet Situation Re-
sulting From Deprecated
Foreign Exchanges.

WASHINGTON, Jan. 12.-Broad powers
asked for by President Harding in
administering the proposed new tariff
law with a view to meeting unusual
end changing world conditions. which
could not be anticipated by Congress.
wouiu be granted under amendments
to the Fc-an..- bill proposed to-day
by Senator Smoot (Utah), ranking
Republican on the Senate Finance
Committee.
The President would be authorized
to increase or decrease tariff rates by
not exceeding so per cent. of the rates
fixed in the bill; to proclaim American
valuation as the basis for assessing
duties on any given list OF imports +;
to change rates within the limit Of
90 per cent. so as to meet situations
arising in American markets as a re-
suit Of deprecated foreigirexchanges
to prevent dumping in American mar
kets and to prevent discrimination
against American foreign commerce
by foreign countries.
Hearings Provided For.
Adjustment of rates to equal;ze dif-
ferences in conditions Of competition in
trade of specified articles in the United
States and competing foreign countries
could be made only after investigation
and hearing and would not be effective
until within thirty days Of their procia-
nation. Thirty days also would have to
elapse before adjusted rates because of
deprecated currency would come into
effect and also before proclaimed Ameri-
can valuation could be put into force.
Besides these amendments Senator
Smoot also offered an amendment to
the American valuation section OF the
Fordney bill proposing that where the
duty Is based upon or regulated In any
manner by the value OF the imported
merchandise, the duty would be assessed
upon actual market value or the whole
sale price thereof at the time of the
expectation in the principal market or
markets of the United States.
The alternative for the American
valuation plan, proposes that whenever
imported merchandise is subject to a
duty based upon or regulated by the
value Of the merchandise, "the duty shall
be assessed upon the actual market
value or wholesale price thereof at the
time of expectation in the principal
market or markets of the United States"
New Valuation Plan.
The amendment proposes that the
words value" or actual market value"
or wholesale price" shall be deemed
to be "the price at which such or similar
imported merchandise is&freely offered
for sale or sold to all purchasers" in the
American markets In the usual whole
sale quantities, cor the price which the
seller or owner would have received or
was willing to receive or did receive for
such mercha ndise when offered for sale
or Sold" There is a provision designed
TO prevent the establishment of value
through fictitious sales.
Under the Fordney bill American VAL
uation plan the value placed OIL i'm
ported merchandise for the purpose of
imposing the duty would be the selling
price in the United States 'of COM
parable or competitive products of the
United States" Should the appraisers
be unable to find comparable prod
ucts" they would determine the value
of the imported merchandise taking
into consideration the difference in con-
version costs I'm the United States and
the country of origin, the cost OF the
merchandise when sold abroad and
handling and other costs, including the
Importers profits.
A protest has been filed with the
Senate Finance Committee by the Ma
tional Association of Merchant Tailors
against the provision in the Fordney
tariff bill which would permit residents
of the United States returning from
abroad to bring into the country duty
free $3.50 worth of personal belongings
purchased overseas. The association
also asked that the present allowance
OF 500 be repealed.