Word: trade
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Dates: during 1950-1959
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...President of the U.S. hoisted the signals for a reappraisal of one of the fundamental policies of his Administration: the longstanding U.S. quarantine of Communist China. Last week, reflecting his own personal convictions, mounting pressure from such trade-strapped allies as Britain and Japan and the pleas of some elements of U.S. business, he made it clear that he believes that present tough trade restrictions on Peking are not realistic for the long pull...
...said as much at his weekly news conference in reply to a double-barreled question about 1) the "durability" of U.S. relations with the Chinese Nationalists on Formosa, and 2) the "possibility" of reopening U.S.-Red Chinese trade. U.S.-Formosan relations, said the President, "are unchanged as a result [of the Taipei riots] as of this moment, and so far as I know, no one has suggested any change." As for trade with Peking, the embargo against it is a matter of "law" and "so long as that law is on the books, of course, that is that."* Correspondents quickly...
...Important Front. The President's remarks were anything but spur-of-the-moment observations. To begin with, he had been surprised that both Congress and the press had taken the unilateral British decision to resume nonstrategic trade with Peking (TIME. June 10) with such equanimity. Since he is personally more or less in sympathy with the British position that the European front is the really important one in the cold war, he deemed it reasonable that trade restrictions on Red China-growing out of the Korean war-need no longer be tougher than restrictions on Russia. Said one White...
Help for Harbors. Readying for the surge in trade that will be generated by the deeper seaway and connecting channels, U.S. and Canadian lakeside ports are expected to spend about $50 million for improvement by the end of 1960. Chicago alone is putting $24 million into its Lake Calumet Harbor Development, has already added a mile-long dock, two grain elevators (total capacity: 13 million bu.), three modern cargo sheds (capacity: 300,000 sq. ft.), ten miles of railroad and five miles of access roads. Milwaukee is investing $11.2 million. Among its projects: a $5,500,000 steel pier that...
...Price of Leadership. In both Britain and France, at the height of the dispute over U.S. embargoes on trade with Communist China, the press was quick to view the violence as evidence not only that Generalissimo Chiang Kai-shek will bite the hand that feeds him, but has very few teeth left. Said the neutralist newspaper Le Monde: "The Nationalists have lost almost all hope of winning back China. This sense of frustration naturally nourishes the feeling of latent bitterness against the Americans." If the riots "lead to fresh thinking about Formosa," said the Manchester Guardian, "they will have done...