Word: importent
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Dates: during 1970-1979
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...incensed at the trade penalties, since they rely so heavily upon U.S. markets. But the U.S. at year's end struck a good bargain. The deal was taking shape: a shift in the balance of world currencies in exchange for devaluation of the dollar and the dropping of the import surcharge...
...first formal declaration came at a summit meeting in the Azores with French President Georges Pompidou, long a critic of U.S. monetary policies, who argued for devaluation and an end to the 10% import surtax imposed by Nixon in August. Nixon was ready to agree. Then, at week's end, he stepped beneath the Wright brothers' 1903 biplane in Washington's Smithsonian Institution. Near by, the finance ministers of the world's ten greatest Western industrial powers had been meeting for two days to complete the latest round of negotiations begun after...
...IMPORTS of Volkswagens, Yamaha motorcycles, French wines, British woolens and many other goods will cost more. The effect of the currency shifts will be offset somewhat by removal of the import surcharge, and some importers may try to keep dollar prices down in an effort to hold markets. A trade specialist of the Union Bank of Switzerland, however, estimates that "even with the surcharge removed, Swiss watches will be 15% more expensive in America." Certainly not all U.S. consumers will switch to American-made products. Fanciers of Scotch whisky, for instance, are unlikely to opt for bourbon...
SATO. Nixon's sessions with Japan's embattled and embittered Premier Eisaku Sato will be his toughest. The Administration's overtures to Peking and the import surcharge both caught Sato by surprise, and they have soured the final months of Sato's exemplary political career. Ordinarily, Sato talks with Oriental indirection, but he is expected to be blunt in confronting Nixon with his suspicions that Henry Kissinger's master plan in the Pacific is for the U.S. to manage both Tokyo and Peking by playing the two off against each other...
...sometime plantation boss, Navy officer, newspaper reporter, FBI agent, import-export manager and Texas-based business-school dean flew into Washington to take on a new job. He became the U.S. price czar. C. (for Charles) Jackson Grayson Jr. found that the seven-member Price Commission he was to head had no staff, no permanent office and no secretaries; he had to ring up the Civil Service Commission in Washington to ask how to go about hiring. It was a situation suited to the take-charge spirit of 48-year-old Jack Grayson, who constantly advises associates that "someone...