Word: cottons
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Dates: during 1950-1959
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...Warsaw government wishes to get trade credits here totaling about 100 million dollars at least. It wants these to finance the purchase of urgently needed cotton, modern farm machinery, new mining equipment, fats and oils, chemical fertilizer and grains for cattle food...
...concentrating on vulnerable U.S. markets, are threatening the whole U.S. industry. Last week, after months of negotiations, Japan agreed reluctantly to put a five-year ceiling on its exports to the U.S. The terms (subject to yearly review): Japan will ship no more than 235 million sq. yds. of cotton textiles, or 2% of annual U.S. production...
Voluntary Curbs. Some Southern states, irked by Government sales of cotton to Japan at 25% discount, pushed for restrictive state laws to check Japanese imports. The Tariff Commission urged presidential approval of a 100% hike in velveteen tariffs, the highest in 27 years; it began studying higher tariffs on Japanese gingham imports, now 48% of U.S. production...
...commerce officials tried to work out a compromise. U.S. manufacturers wanted to limit imports to 225 million yds. overall in 1957. Japan held out for its 1955 level of 270 million yds.-half in yardage fabric, half in readymade goods. When U.S. textilemen suggested more Japanese concentration on yardage cotton goods (dominated by more efficient U.S. producers), Japanese Cotton Spinner Spokesman Yasuo Tawa said tartly: "They are giving us broad fishing areas where there are no fish, and shutting us out of narrow seas which are full of fish...
...regime's worst trouble was its gradually deteriorating economic situation. Though Egypt has found markets for most of its basic cotton crop, these were mainly in Communist and neutral countries to which Egypt was already in debt. With tourist traffic cut to a trickle and all canal revenues blocked, the foreign-exchange shortage was approaching the crisis point. Business in Cairo was at a standstill, disrupted by the expulsion and departure under pressure of thousands of Jews and other foreigners. The middle class, hardest hit by the economic crush, began turning against the regime...