Word: exportation
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Dates: during 1970-1979
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...which buys Soviet vodka, platinum, diamonds and chrome ore and sells oil-and gas-drilling equipment, machinery and electronic gear, including computers. The Russians have been eager for loans and technological know-how, and so far they have got some of both. Only in May Nixon intervened with the Export-Import Bank to approve a $180 million loan for eight Soviet ammonia fertilizer plants and the attendant gear to move the fertilizer to distribution centers. Partially because of the Jackson amendment, however, Nixon has not been able to deliver on his other promises for loans and tariff concessions. "My firmness...
...group gradually reached agreement, mostly on Socialist terms. Over the next nine months, credit should expand by $35 billion, with small and medium businesses that are engaged in export given preference. Meanwhile, almost $5 billion in new taxes and charges is likely to be levied, including higher transportation and utility rates, stiffer taxes on fancy foods and other consumer goods, an auto-license surtax and a possible 100% increase in the $20 national tax on television sets...
...Export demand for wheat should decline because of big harvests in other nations, notably Argentina and Australia. A wheat carryover to 1975 of up to 500 million bushels is expected, v. an estimated 170 million for 1974. Thus the U.S. would seem assured of enough grain to feed its own citizens and supply foreign buyers at prices somewhat lower than now. That prospect does not please farmers in the least: one of the nation's leading agricultural economists, D. Gale Johnson of the University of Chicago, calculates that net farm income will drop 20% this year, to $20 billion...
...most of its 40 years, the Export-Import Bank has enjoyed a quiet, effective and even profitable existence. Started in 1934 by President Franklin D. Roosevelt to finance American trade with the Soviet Union, which the U.S. had just recognized, the bank was soon authorized by Congress to grant credits to other countries so that they could buy more U.S. goods and services. By using its $20 billion lending authority to extend credit to countries and companies on which commercial banks would not take a risk, Ex-lm has helped expand U.S. exports. It facilitated a record $10.5 billion sales...
...high interest rates and frugal public spending. Trouble is, the tight money situation in West Germany affects Giscard's hopes for an expanding French economy because it means a shrinking German market for French goods, as well as a more aggressive effort by West German industries to export goods in order to offset slack sales at home...