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Foreign Trade Page
Foreign Policy - Trade (Melvia Kawashima)
Foreign Policy Association's "Great Decisions" ... wrap-up for 1973 (Barbara Wiebenga)

Foreign Trade Page

FOREIGN TRADE PAGE

Trade and Aid mini reports ...$$$

PARIS... Maurice Williams, Chief American Delegate to Joint US-N. Vietnam Economic Commission said in Paris that aid is out of the question at present due to cease-fire violations ... TRINIDAD ... 12 Caribbean countries with ties to Great Britain are meeting in Guyana to set up a Caribbean Common Market of 4.5 million people. WASHINGTON ... US Trade deficit in Feb. grew $476 million greater. Benefits of latest $ devaluation are yet to come. Under develuations, US goods become cheaper overseas and imports more expensive for American consumers. Paul Volcker, Treas. undersec4etary for monetary affairs said that an improving trade balance would be the most positive sign to the international community the US is getting its economic affairs in order ... MOSCOW .,. . Treas. Sec. George Schultz meeting with Leonid Brezhnev Communist Party Chief, was optimistic that the problem of most-favored nation trading status could be solved. The solution hangs on the Jewish emigration issue which is keeping our Congress from passing the necessary trade legislation... PARIS ... Carl Hartman in his article on "Trading Nations" said that 13 nations agreed on ways to end the monetary crisis. With close consultation they will trade one currency against another. Treas. Sec. Shultz will look into action to encourage flow of Eurodollars-American dollars deposited abroad - "80 billion of them back to US "as market conditions permit". The nations agreed that the way to get international stability in monetary affairs was to contain inflation ... WASHINGTON ... Pres. Nixon, in his first annual international economic report to Congress, told Japan and Western Europe that the US would be giving up some of its liberal policies toward international trade and will take a harder line. Because of unfair barriers to US goods put up by Japan and W Europe we had a deficit of $6.8 billion last year. We can no longer afford this, Pres. Nixon will ask Congress for Broader authority to raise tariffs, impose quotas, protect American workers on a temporary basis. (Burke-Hartke bill would make these items permanent) Mr. Nixon will go on TV to emphasize the importance of this trade legislation, which will go to Congress before April 19. Trade negotiations open in Tokyo in May. GATT trade negotiations begin in Tokyo in Sept. and later will be moved to Geneva and will last a minimum of 2 years. Pres. Nixon also plans to sell some commodities from the nation's strategic stockpile to curb inflation ... TOKYO ... according to L.D. Wood on "Japan Affairs" the Japanese are concerned about Pres. Nixon's foreign trade bill. They fear a growing protectionist sentiment leading to "fair trade" rather than "free trade". A leading Japanese newspaper warns "a very serious problem will develop if the Nixon Administration's new trade strategy stresses defending a set of narrowly conceived and egocentric American national interests rather than promoting international harmony- and if Washington, while advocating fair trade, ignores its own 'unfair trade practices' and moves more strongly toward the protection of its own domestic industries".

From the Office S R T (Special Representative for Trade)... D.C. ...

On April 10, 11, 12 a public hearing was held to gather information for negotiations due to the enlargement of the European Communities by the United Kingdom, Denmark and Ireland. Ambassador Eborle said that it is vitally important that the GATT commitments of Denmark, Ireland, and the UK are adequately replaced by Community Concessions of equivalent value to the US."

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