Word: ottawa
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...monetary powers agreed to realign their currencies in return for an end to the U.S. import surcharge, one important country was missing from the revaluing ranks. Canada, the largest U.S. trading partner, had already allowed its dollar to float to higher levels more than a year earlier. Ottawa officials hope that their dollar will float down again so that Canadian exports will be cheaper in the U.S., and the Nixon Administration so far has not pressed Canada to fix a formal rate for its dollar...
...other side, Canadians point out that it was Detroit's decision, not Ottawa's, to build more cars in Canada. "If the safeguards were lifted," said one official, "there would be no incentive for car manufacturers to stay in Canada." Because of higher taxes, a smaller market and other factors, Canadian-built cars retail for $200 to $800 more than equivalent models made in the US. The Trudeau government is afraid that Canadians would rush across the border to buy U.S. cars if the tariff were dropped. Finally, the auto pact has become a symbolic issue in Canadian...
President Nixon plans to visit Ottawa in the spring. Canadian diplomats would like to have an agreement covering many other trade issues-notably relaxation of U.S. restrictions on purchases of Canadian uranium, aircraft and farm-machinery parts-ready for the President's signature. But if neither side tempers its stand on the auto pact, Nixon may sign nothing more important than Trudeau's guest book...
...Canadians claimed a victory by announcing that their dollar, alone among major currencies, will continue to float against the U.S. dollar. In the 19 months since Ottawa set its currency afloat, the Canadian dollar has risen about 8%, probably less than the rise that would have been required of Canada in a formal revaluation. As expected, a number of Latin American nations and others whose principal trade is with the U.S. followed Washington in devaluing, thereby keeping their currencies on a par with that of their biggest customer. The move should also increase the competitiveness of their exports in trade...
Born. To Pierre Trudeau, 52, Prime Minister of Canada, and Margaret Trudeau, 23, daughter of former Fisheries Minister James Sinclair: their first child, a boy; in Ottawa, on Christmas...