Word: traded
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Dates: during 1960-1969
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Fourth, the university should continue to explore, as it has during the past few months, the possibility of joining with other universities and other large employers in the Boston area to draft a joint agreement that would insure that contractors and trade unions serving those institutions have an affirmative policy toward the hiring of blacks...
...Miserable Surplus. President Nixon also inherits some global economic problems. In international trade, the nation last year suffered a setback. As Under Secretary of the Treasury Frederick Deming reported, the trade surplus shrank to a "miserable $500 million, down $3 billion from 1967's respectable but relatively poor showing and down more than $6 billion from the 1964 level." Inflation, the Viet Nam war, and higher imports (see following story) share the blame. Only because many foreign investors poured funds into the U.S. was the nation able to achieve a $150 million surplus in its balance of payments...
Though the nation faces serious difficulties in foreign trade, President Johnson last week again deplored protectionist sentiment in the U.S. "The only real solutions are ones that improve our economy-not ones that erect new barriers that could provoke retaliation," he told Congress. To help strengthen the U.S. dollar, he also asked for continued controls on private investment abroad. Nixon is likely to keep those controls in force...
...traditionally fat U.S. trade surplus shrank to almost nothing last year largely because of steel. Foreign steel makers, who accounted for less than 5% of the U.S. market as recently as 1961, won a 12% share in 1967 and a surprising 17% in 1968. American pur chases of steel from abroad last year reached a record $1.5 billion...
...imports have risen, so have demands by domestic producers for protective quotas. Faced with growing Congressional support for protectionism, the Johnson Administration feared the damage that mandatory import controls would do to its policies of free trade. Thus it has been trying to induce foreign steelmakers to cut back shipments to the U.S. voluntarily. Last week the Federal Government announced that Japanese and Continental European steel producers, who together account for four-fifths of all steel imports, had agreed to impose their own restrictions for the next three years...