GOVERNMENT: Economic War

The U.S. last week stepped up its economic war on China. It forbade any American ship to call at any Red China port, and froze Red China funds in the U.S. or in U.S.-controlled territory. Earlier, the Department of Commerce had clamped down on trading with all Iron Curtain countries. It freshened up a blacklist of some 200 companies and individuals who have been sneaking goods into the Soviet orbit. The department said that it was also keeping a close watch on all exports to Switzerland, Spain and other way stations in the shipment of strategic goods from the...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!