NBC Evening News for Wednesday, Nov 29, 1978
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(Studio) October trade deficit reported 1978 said expected to set record for trade deficits.
REPORTER: John Chancellor
(DC) Americans' penchant for buying foreign goods, despite higher cost of them due to decline of dollar and lower price of competing American goods, given as major reason for continued trade deficits. [Assistant Commerce Secretary Frank WEIL - thinks people buy what they believe to be good quality and that price is less important than it used to be.] Incrs. in various imported goods listed and decrease in United States exports in October reported Less demand overseas for main United States export, food, due to good harvests noted. [WEIL - discusses lack of American corps. selling abroad, reasons for it and necessity for corp. exports in other ntns.] Expected oil price hike in December stated.
REPORTER: Irving R. Levine