Word: embargoing
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TOTAL TRADE EMBARGO. This House-approved measure could clip the profits of white-owned businesses and apply marginal pressure on the government, while probably throwing blacks out of work on a significant scale -- particularly if mining of gold, coal and diamonds was seriously impeded. American exports to South Africa declined to $1.3 billion last year, while U.S. imports have remained fairly steady at slightly above $2 billion. A trade embargo would thus have little financial effect on the U.S. As for South Africa, it could probably evade export restrictions by shipping its goods through other countries. This would increase...
...they will suffer the most in loss of jobs if the country's economy is seriously hurt. While this is true, it is a fear apparently being exaggerated by Pretoria to ward off sanctions. Massive unemployment does not seem likely unless many more nations join in a total trade embargo against South Africa than now seem willing...
Reagan will need to use all his famous political skill to push back the increasing sentiment for strong sanctions that is sweeping Capitol Hill. Last month the House of Representatives voted overwhelmingly to clamp a total trade embargo on South Africa and force U.S. companies to withdraw their investments. Last week the Senate headed down a similar path as it considered three draft bills calling for sanctions. "The policy of the Administration is a disgrace and an embarrassment," charged Massachusetts Senator Edward Kennedy. "The Congress must act now to put the U.S. back on the right side of history...
Rumania has been hard hit by the disaster at the Soviet Union's Chernobyl nuclear power plant in April. After the accident spread radioactive fallout across Eastern Europe, the European Community banned imports of crops and livestock from the region for three weeks. The embargo slashed the Bucharest regime's foreign-exchange earnings and forced the cash-short country to miss several million dollars in debt payments to the International Monetary Fund, the World Bank and other Western lenders...
Both Shultz and President Reagan remain opposed to sanctions, arguing that they would not only remove U.S. leverage in South Africa but devastate much of southern Africa. In June, however, the House overwhelmingly voted to clamp a comprehensive trade embargo on South African products and force all U.S. companies to withdraw from the embattled country within six months. Last week the Senate delivered its strongest gesture of impatience yet. Only hours before the body recessed for the holiday weekend, Republican Senator Nancy Kassebaum introduced a bill that would ban all new U.S. loans and investments in South Africa. Said...