Word: imported
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...import quotas have been something of a sacred cow through four successive U.S. Administrations, certainly including Richard Nixon's. Yet last week Nixon signed a proclamation allowing importers to bring in an average 230,000 bbl. more a day for 1972, about 15% more than before. Because there are just over seven months left in the year, the daily increase will really amount...
...visible relaxation of tensions between the U.S. and the Soviet Union. The Soviets probably will settle their old World War II Lend Lease debt, an otherwise minor irritant that has handicapped trade between the two countries because the U.S. Export-Import Bank cannot, by law, deal with the Russians until the default is cleared up. Both sides will now probably sign agreements during the presidential visit providing for improved shipping arrangements between the two countries and for the largest sale of U.S. grain to Russia since the cold war began...
...same prices we paid 20 years ago? How do we stay in business? We borrow a little more, we have our eleven-year-old son work full time in the hayfield, we work from daylight till dark-and now, during calving, part of the night, too. Boycott meat or import it-either way, when American beef producers are bankrupt, the inferior imported beef will have the housewife crying louder than...
...billion lend-lease aid provided during World War II. The real issue centers around payment for "civilian" goods, which accounted for one-quarter of the total. The Russians must at least partly clear up this default before Nixon can offer them Government-backed U.S. Export-Import Bank loans. The lend-lease talks were broken off in 1960 but, at Soviet request, talks have just been resumed in Washington. The U.S. has offered to settle for $800 million, but it wants hard Western currency. The Russians are willing to make a payment of $300 million and want...
...Earl Butz regularly travels through the farm belt holding out promises of even higher prices to come. Most economists are wary about controlling farm prices because it could lead to shortages and rationing. Yet there are alternatives to price controls. The Administration could increase supplies by 1) loosening meat import quotas, 2) reducing some price supports and 3) releasing Government feed surpluses on the market. A start in that direction could well come out of congressional hearings next month that will look into the reasons for rising food prices. Said President Nixon last week: "If food prices...