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Economy / Textile Ind. / Surcharge #454285

NBC Evening News for Friday, Oct 15, 1971
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(Studio) Roving ambassador David Kennedy and Japanese Trade Min. make agreement limiting Japan's textile import to US; blow to prestige of Japan government; signal victory for administration 100,000 American jobs lost due to Japanese competition.
REPORTER: John Chancellor

(DC) [For. Trade Assistant Peter G. PETERSON - says understanding gives other cntrys. fair access to United States mkts., while making orderly adjustment here; points out walls could have been built around United States if situation hadn't been rectified.]
REPORTER: No reporter given

(DC) Decision helps Nixon political with regard to promise to South constituents; takes steam out of Congress drive to impose quotas on products; will help administration get South support for returning Okinawa to Japan.

(Studio) Agreement also made with South Korea, Hong Kong, China, and Taiwan, China. United States exempts non-cotton textiles of all cntrys. from 10% surcharge.
REPORTER: John Chancellor

Chancellor, John;
Duke, Paul

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