TRADE: Making the Soviets Steady Customers

Under heavy political pressure, the Ford Administration set out about six weeks ago to convert the Soviet Union from an in-and-out, market-disrupting buyer of U.S. grain to a steady customer that makes regular purchases in agreed-on amounts. Last week in Moscow, U.S. and Soviet negotiators signed a five-year agreement that should accomplish that goal and lessen the inflationary impact of future Soviet buying by enabling markets to anticipate it. In contrast to the furious criticism that has greeted past U.S. grain sales to the Soviets, this deal satisfied almost everyone except American farmers who wanted no limits of any kind...

Want the full story?

Subscribe Now

Subscribe
Subscribe

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 TIME.com

Learn more about the benefits of being a TIME subscriber

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