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Economy Policy / Effects #16707

ABC Evening News for Tuesday, Aug 17, 1971
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(Studio) Foreign products already in US, before 10% surcharge imposed, selling quickly.
REPORTER: Harry Reasoner

(Tokyo, Japan) Japanese stock market dropping due to fear of revaluation of yen. [Bank of Tokyo spokesperson Tamotsu YAMAGUCHI - says situation concerning yen uncertain.] 30% of Japan exports go to US; surcharge and announcements of President Nixon's visit to People's Republic of China, may cause Japan to take counter measures.
REPORTER: Howard Tuckner

(Studio) United States tourists getting less for United States dollar in Europe.
REPORTER: Harry Reasoner

(Rome, Italy) Exchange rates slightly lower than before new economic policy, but tourists limited to $50 per day; travelers checks companies honoring own checks in unlimited amts.; Italy most concerned about 10% surcharge.
REPORTER: Barrie Dunsmore

(London, England) Britain exports to United States affected by surcharge include cars, whiskey and gin. [Beefeater gin director Norman BURROUGH - says surcharge likely to restrict trade worldwide to detriment of everyone.]
REPORTER: George Watson

Dunsmore, Barrie;
Reasoner, Harry;
Tuckner, Howard;
Watson, George

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