• Short Summary

    The 10% import surcharge imposed by President Nixon to halt the drain of the United States dollar has struck heavy blows at industries throughout Latin America which depend upon exports to the United States.

  • Description

    The 10% import surcharge imposed by President Nixon to halt the drain of the United States dollar has struck heavy blows at industries throughout Latin America which depend upon exports to the United States.

    In Argentina meat canning and refrigeration factories have been bard hit, and in their turn have cut back their orders for beef cattle from the ranches.

    Other Latin American countries have also felt the pinch in import export industries: Brazil (electrical machinery): Bolivia (woodwork): Mexico (fresh vegetables, meat fish, electrical and telecommunications equipment): Colombia (canned meat): Chile (copper alloys): Ecuador (fish): Peru (iron and Steel tubes): Venezuela (hides). The tobacco industry has been affected throughout Central America.

    SYNOPSIS: Argentina, which last week announced a 90 - day ban on imports to protect the peso, is also feeling the effects of President Nixon's moves to protect the dollar. Washington's ten per cent import surcharge has had a severe effect on the meat canning and freezing industry, which relies heavily on exporting Argentine beef to the United States. Countries throughout Latin America have felt the same effect on important export industries, ranging from Mexico's fresh vegetables, meat, fish and electrical goods to Chilean copper and Peruvian steel tubes.

    At this meat factory, in Buenos Aires, the export crisis has come on top of existing financial and management problems, and the future for the employees is very uncertain. And as the meat factories close, the effects of the crisis are increasingly being felt by the ranch-owners who raise beef cattle for export.

  • Tags

  • Data

    Film ID:
    VLVA1DA5MWBPJ7CX03J8ITX3O2YKW
    Media URN:
    VLVA1DA5MWBPJ7CX03J8ITX3O2YKW
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    19/09/1971
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:00:59:00
    Time in/Out:
    /
    Canister:
    N/A

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