The Hemisphere: Coffee Switch

The U.S. has sharply reversed its policy on Latin America's most important export: coffee. Traditionally, the U.S. has maintained that coffee marketing should operate solely on the basis of supply and demand; in times of high prices, the coffee-growing nations cashed in happily, but in the all-too-frequent years of sagging prices and unwieldy surpluses they had to bear the losses and hope for better days. Even before Vice President Nixon's tour of Latin America, the U.S. was considering shifting its position. Last week, as part of the post-Nixon new look in U.S.-Latin American relations (TiME, June 2 et seg.), the U.S....