President Richard Nixon has removed 20-year-old restrictions on a broad range of trade with the People's Republic of Chins.
GV White House (2 shots)
CU INT. Speaker on platform
CU Man speaks (SOF)
TRANSCRIPT: ZIEGLER (SEQ. 4): "The United States will permit the free export to China of a range of non-strategic U.S. products. These include most farm, fish, and forestry products, tobacco, fertilisers, coal, selected organic and inorganic chemicals, rubber, textiles, certain metals -- such as iron, zinc, and tin -- agricultural, industrial and office equipment, household appliances, electrical apparatus in general and industrial use, certain electronic and communications equipment, certain automotive equipment, and consumer goods. President Nixon has also decided to permit the free export of grains to China, as well as the Soviet Union, and eastern Europe. In the past, these exports have been governed by regulations that have hindered the export of grains to these countries. President Nixon has also decided that the government will examine requests for the exports of other items to the People's Republic of China, and permit those transactions which are consistent with US national security. The United States will also permit, for the first time, commercial imports from China, while keeping the possibility for future controls on these exports, if necessary. This is a lifting of a trade embargo that has now been in existence for some twenty-one years. We consider this a broad list, an impressive list of products, and a very significant step."
Initials SGM/2225 SGM/2151
Script is copyright Reuters Limited. All rights reserved
Background: President Richard Nixon has removed 20-year-old restrictions on a broad range of trade with the People's Republic of Chins. In his announcement in Washington on Thursday (10 July), read out by White House Press Secretary Ronald Ziegler, President Nixon also promised to consider further steps later. American businessmen will now be able to export to China a variety of non-strategic products including motor cars, television sets, food grains, and textile machinery.
President Nixon is expected to follow up his relaxation on America's trade ban by softening U.S. opposition to Peking's membership in the United Nations.
Concerning the lifting of the trade restrictions, Mr Ziegler said, "President Nixon looks upon these measures as a significant step to improve communications with a land of 800 million people, after a 20-year freeze in our relations".