Word: embargos
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Dates: during 1970-1979
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When Jimmy Carter allowed the ban on American travel to Cuba to lapse last March, no one was happier than cigar aficionados. They had been deprived - legally, at least - of the pleasures of Cuban stogies since 1962, when the embargo on trade with Fidel Castro's island was imposed. A smoker is now free to ask a Cuba-bound traveler: "Hey, going to Havana? Pick me up a couple of boxes of Montecristos." But lately many Americans returning to the U.S. from points outside Cuba laden with Havana's best have been rudely awakened by customs inspectors...
...explanation is simple: as a courtesy to travelers to Cuba, the U.S. has lowered the embargo a tiny notch. Tourists may bring back up to $100 worth of merchandise, but otherwise, all Cuban goods are contraband in the U.S. Aha, a traveler might wonder: a plot to protect U.S. cigar makers? Probably not. "Cuban tobacco would be a stimulus to American cigars," insists Carl J. Carlson, executive director of the Cigar Association of America. Since the embargo began, total cigar sales in the U.S. have receded from more than 6 billion a year to just 5.3 billion...
...members of the Organization of Petroleum Exporting Countries. At their December meeting in Qatar, the cartel broke into two warring camps (TIME, Dec. 27). Eleven members, led by Iran and Iraq, raised their prices by 10%, to an average $12.70 per bbl. (v. $2.30 per bbl. in pre-embargo 1973); they also agreed to hike prices a further 5% on July 1. But the Saudis and their allies, the United Arab Emirates, arguing that higher fuel costs would hamper the recovery of the industrialized world, raised their prices by only 5%. Today their oil, which accounts for one-third...
...basis of Chile's infrastructure went on strike--supported by money from the CIA--these were the people who refused to slow production, who walked to work. These were not the people who decried shortages of consumer goods, set up a black market, and hoarded provisions whenan American trade embargo created a false shortage of foreign exchange with which to import luxury goods. The people who speak in Avenue are those who would have built Allende's "better society...
...congressional action embittered the Turks, who felt that it was an insult to a staunch anti-Communist ally. The rebuff on the Phantoms was particularly galling since Congress last month approved the sale of 18 F-4s to Greece-on credit terms. Meanwhile, the embargo reduced the effectiveness of the Turkish air force by 50%; planes earmarked for NATO service were grounded for lack of spare parts...