Word: foreign
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Dates: during 1950-1959
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Nosing down are U.S. shipments of aircraft (foreign lines are waiting for the jets), cotton (buyers are holding back for a price cut expected later this year), coal (Europe has a big surplus). Dropping also are exports of machinery and steel, cars and oil, for the same reasons that U.S. imports of them are steaming up: the foreign products are plentiful, low in price and of good quality. Comparing the first halves of 1958 and 1959, U.S. imports of electrical apparatus, electronics parts and transistor radios went up from $72 million to $96 million, imports of industrial machinery from...
...recently as 1957. At best, says Under Secretary of State C. Douglas Dillon, exports will rise $1 billion in the next year, led by lower-priced U.S. cotton and the new jets. These new realities of world trade have moved the Administration to take a sterner view of foreign nations that still jealously preserve high tariffs and import quotas against dollar goods long after the need is past. At next month's annual meeting of the World Bank in Washington, the Administration will launch its strongest campaign yet to persuade other nations to ease their trade barriers against...
...international airlines enter the Jet Age, the U.S. is junking a belief as outdated as its piston planes. The belief was that U.S. flag carriers could hold their lead over a growing flock of aggressive foreign competitors without a drastic change in U.S. air policy. Last week the U.S. airlines got a new warning of the onward march of foreign competition. From the State Department came an announcement that Air France will get an additional U.S. gateway at Baltimore and a polar route to the U.S. West Coast. BOAC will get the right to land at Tokyo...
...only nation equipped with planes to operate long-distance service. It campaigned for a free competition agreement, but the plane-short British forced a compromise that provided for an equitable exchange of traffic between nations signing a bilateral pact. Since then the U.S. has often ignored breaches by foreign airlines, drawn criticism from U.S. carriers for giving out fat new routes without getting much in return...
...gives out, are ending the giveaway period in favor of more horse trading and stricter rule watching. The new trend was forced by the awareness that U.S. flag lines could follow the downward path of the U.S. maritime industry. Though 70% of all air passengers between the U.S. and foreign countries are U.S. citizens, the share of traffic carried by U.S. carriers has fallen from 75% in 1949 to 60% today. In the first quarter this year, BOAC nudged out Trans World Airlines as the second biggest transatlantic carrier (No. 1: Pan American), the first time a foreign flag line...