• Short Summary

    At the 151st session of the European Common Market Ministers, the member nations approved the mechanism for a controversial tax on fats and oil imports.

  • Description

    At the 151st session of the European Common Market Ministers, the member nations approved the mechanism for a controversial tax on fats and oil imports. The tax would come into effect whenever domestic production needed protection, and if applied would hit the Common Market's main suppliers, including the United States. Community officials said that the tax is not the same as the so-called "margarine tax", although the same products would be affected. The margarine tax drew a formal protest from the United States, when it was proposed two years ago.

    According to Common Market officials, the tax agreed upon at the meeting in Brussels on Monday (25 May) is not likely to be applied in the near future, due to present high levels of fats and oil prices on the world market.

  • Tags

  • Data

    Film ID:
    VLVABPVOLIVU1K01Q5RFL0UCOU3A7
    Media URN:
    VLVABPVOLIVU1K01Q5RFL0UCOU3A7
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    25/05/1971
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:00:00
    Time in/Out:
    /
    Canister:
    N/A

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