Word: trades
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Dates: during 1960-1969
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...Administration has sound reason to bolster the nation's exports. In the long run, the strength of the dollar greatly depends on that effort. The U.S. trade surplus used to average $5 billion a year. This year the surplus will total less than $1 billion, mainly because imports have risen 50% over the past three years, twice as fast as exports. Much of the blame can be laid to U.S. inflation, but not all of it. Farm exports have fallen sharply, largely because Common Market countries have unloaded surplus grain, chickens and other produce abroad at subsidized prices...
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...
...eliminating domestic protectionist devices, notably the 1933 "Buy American" legislation, which prevents the Federal Government from purchasing foreign goods unless the price is more than 6% below that of comparable U.S. products. Repealing the law would help the Administration to press foreign countries to end equally ingenious barriers to trade, including European border taxes, health regulations and artificial technical restrictions...
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...
...have regarded tradition as something to be abandoned without much regret-like a too heavy saddlebag on the Donner Pass or a jammed rifle at Shiloh. That a man should live and die in the house where he was born, that he should take up his father's trade as a matter of course-these things have signified stagnation. Change has been our commonplace, our comfort and our proof of progress...