Word: embargo
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Last spring pressure began to mount in Britain and elsewhere for relaxation of the U.S. embargo list. The U.S. then began talks in Paris with 14 countries for a revision. Last week Foreign Operations Administrator Harold Stassen announced the changes. They are sweeping, and represent another major setback for U.S. policy...
...Strategic items under flat embargo were reduced from 260 to 170. Permitted exports include crude oil, diesel oil, mica, non-military tires, non-turbine locomotives, air-conditioning equipment, general-purpose machine tools, light generators, light tractors. Raw copper is still banned, but copper wire is released...
RUSSIA'S TRADE with the West will pick up. Under British pressure, 15 nations (including the U.S.) have agreed to lift export controls on crude and diesel oils, light machine tools, farm tractors, copper wire, air conditioners, mica, tungsten, some 150 other products. Still under embargo: 170 strategic items, including weapons, uranium and airplanes...
...Beggars and rags were a rare sight when I left China although very common in 1947, when I arrived . . . The stores were crowded with buyers and heavily stocked with goods-almost all China-made. The American embargo though bitterly resented in China, was not effective . . . Imported Swiss watches tempted many a farmer...
When the Wall Street Journal ran sketches and a dope story on 1955-model cars, General Motors protested by canceling all its ads and putting an embargo on all news to America's No. 1 business newspaper (TIME, June 28). The W.S.J. stood its ground, insisted it would continue to dig up news about G.M. despite the ban. Last week G.M. and the W.S.J. announced a truce. General Motors, explained G.M. President Harlow H. Curtice, has been interested only in protecting its "property rights," i.e., its ownership of copyrighted blueprints of new models. "It was never our intention...