• Short Summary

    The United States and the Soviet Union agreed to triple trade over the next three years in Washington on Wednesday (18 October).

  • Description

    The United States and the Soviet Union agreed to triple trade over the next three years in Washington on Wednesday (18 October).

    They also agreed on a settlement of the Soviet wartime land-lease debt.

    After the signing of the agreements, President Nixon received the negotiators at the White House to congratulate both sides on the successful negotiations.

    The two agreements were signed by U.s. Secretary of State, William Rogers, and the soviet Foreign Trade Minister, Nikolai Patolichev.

    Mr. Patolichev said it would be difficult to exaggerate the importance of the agreements.

    Mr. Rogers said that the settlement of the lend-lease debt removed a serious barrier in the way of improved American-Soviet relations.

    Both countries undertook to make credit available to each other's importers and to grant "most favoured nation" tariff treatment for their goods.

    President Nixon said he would ask Congress early next year to approve legislation granting preferential tariff treatment to Soviet goods.

    The agreements called for the two countries to increase their trade to at least six hundred million pounds (sterling.) The Soviet Union agreed to pay two hundred and eighty nine million pounds to the United States to wipe out the lend-lease debt of four thousand five hundred million pounds.

    The trade agreement comes into effect if Congress approves the tariff legislations requested by President Nixon.

  • Tags

  • Data

    Film ID:
    VLVA9D4AF3E7W9RVMMKNSKRMHKNKS
    Media URN:
    VLVA9D4AF3E7W9RVMMKNSKRMHKNKS
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    19/10/1972
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:00:41:00
    Time in/Out:
    /
    Canister:
    N/A

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