Word: armco
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Dates: during 1980-1989
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...high technology ban is also ineffective. Many U.S. trade competitors are quickly jumping in to take over American deals. Armco steel has been forced out of a joint agreement with Japan's Nippon Steel to build a $350 million plant in the Soviet Union. The company now expects the French to pick up the contract. Says Armco Chairman William Verity: "The fact is, we have no economic leverage. Our allies are unwilling to deny the Soviet Union the technology we withhold, and we only hurt ourselves by our attitudes of moral imperialism...