Word: nixon
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Dates: during 1960-1969
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...burden of inflation, President Nixon has often said, falls heavily upon the poor, "who are largely defenseless" against price increases on the necessities of life. That view is seldom questioned by politicians, but a growing coterie of economists has lately come to regard it as a misleading oversimplification. Affluent America knows surprisingly little about precisely how inflation affects the poor. What information is available, though, suggests to some experts that inflation-or at least some of the conditions that contribute to it-actually helps many of the poor more than price boosts hurt them...
...Modest in scope, but significant in impact," said Richard Nixon of the foreign-trade proposals that he sent to Congress last week-and so they were. While his message reaffirmed the nation's 35-year-old commitment to freer trade, the President sought only minor new authority to cut tariffs. In effect, he promised that any Nixon Round of trade negotiations would consist only of hard-headed international horse trading...
...Nixon requested tough new powers to retaliate against countries that erect "unfair" barriers to American exports, or unfairly subsidize their own foreign commerce. Nixon also asked Congress for changes in current law to make it easier for industries, companies or groups of workers that have been hurt by imports to win relief through temporary import restrictions. "To be fair to our trading partners does not require us to be unfair to our own people," he said...
Second Try. As the Johnson Administration vainly proposed last year, Nixon asked Congress to end one venerable U.S. barrier to trade that is regularly cited by foreign governments as justification for their own barriers. That is the "American selling price," which allows duties on benzenoid chemicals used in dyes and vitamins to be set not on the price of the import but on the cost of making the same chemical...
...Much of Nixon's tough new trade policy bears the imprint of Commerce Secretary Maurice Stans, who calls it the first "fullscale attack" against "covert forms of protectionism which discriminate against American exports." In a talk last week to the National Foreign Trade Convention in Manhattan, Stans also promised U.S. exporters additional measures of practical aid. One would add some $750 million to the Export-Import Bank's funds. Exporters can now borrow only limited amounts at the bank's 6% interest rate, and must finance the rest of their sales with private loans...