Word: importance
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Dates: during 1970-1979
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Inflation, especially of oil prices, pushed the U.S. trade deficit in August to $1.1 billion, the worst red-ink figure for any one month ever. According to Commerce Secretary Frederick Dent, the nation imported 10% less oil in August than it did a year earlier-but paid $1.7 billion more for what it did import. Higher prices for foreign steel and paper also added significantly to the import bill, underscoring the point that American consumers are being hurt by overseas inflation as well as by the domestic variety...
Second, the export-import credits were cut off after Chile defaulted on the loans that it had already had, and the bilateral aid was affected by the Hickenlooper amendment...
...served as executive director of the Nixon Cabinet task force on oil import control in 1969 and as assistant special counsel to President Eisenhower between 1956 and 1961. Areeda said he expects his duties under President Ford to be very different from the ones he had under Eisenhower and that they will have only the "legal component in common...
These weakened governments confronted Europe's most severe economic crisis of the past quarter-century. Consumer prices in Portugal were rising at an annual rate of 31%, in France 17%, Britain 23%, Italy 18%, and Belgium 17%. The quadrupled cost of crude oil, which Western Europe must import for most of its energy requirements, plunged the Continent's trade ledger deep into the red. Britain, France and Italy together were expected to run a $28 billion balance of trade deficit this year...
...served as executive director of the Nixon Cabinet task force on oil import control in 1969 and as assistant special counsel to President Eisenhower between 1956 and 1961. Areeda said he expects his duties under President Ford to be very different from the ones he had under Eisenhower and that they will have only the "legal component in common...